SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?


To: Sir Francis Drake who wrote (11732)4/24/1999 9:24:00 PM
From: George K.  Read Replies (2) | Respond to of 16892
 
<OT> I HAVE 8,000$ of DATEK'S money. FREE!

Are you there DATEK people? I'm the guy that said transfer 2 losing Fidelity funds worth perhaps 3K to a traditional IRA. You screwed up and put it in my DATEK Roth. BUT YOU PUT IN $12,003.00! I called you and said this is too much money. "Sir, this is a very serious matter, we'll call you back shortly." That was a week ago. No call. So I FAXED you with the problems with my account a few days later. Still, no call, no message, nothing. SO ON MONDAY I'M GOING TO START TRADING WITH YOUR MONEY. It's been nearly ten days since you screwed up my account and my lawyers say DATEK is hopelessly incompetent. And I'm a lawyer too. See you in court. Save this message DATEK - I wan't it in front of a jury you losers. Thanks for the free money but, more importantly, you deprived me of that portion of it that was mine. And you didn't put it where I told you to. Imagine, one of your customers has to go to SI because you can't answer a letter from someone WHO HAS FOUR ACCOUNTS WITH YOU.

HMMM, maybe I'll short IBM, NSOL, CMGI, or AOL. YOU IDIOTS. JEEZ, never shorted a stock before. Hope it works out for you DATEK.



To: Sir Francis Drake who wrote (11732)4/25/1999 2:35:00 AM
From: nick nelson  Read Replies (1) | Respond to of 16892
 
‘You need look at the chaos at 9:30 a.m. on Nasdaq to know there's tremendous pent-up demand in the marketplace.'
— MATTHEW ANDRESEN
Pres., Island ECN

If the Nasdaq market opened for business from 9:30am to 4:00pm Pacific Daylight Time - right NOW the problem would be solved sufficiently until 7 x 24 trading on all markets is implemented. Plus, you would spread trading interest across the whole day instead of 4 hours a day - DEAD MARKET!! NYSE-Nasdaq-Lunch-NYSE-Nasdaq-Gym... take your pick, 2 openings and 2 closings - all staggered throughout the day.

It's called "Balancing The Load" and it would help the electronic traffic jams. But then, HEY - how could the MM's and broker-dealers steal as much and blame the Net?

msnbc.com



To: Sir Francis Drake who wrote (11732)4/26/1999 10:21:00 AM
From: RockyBalboa  Respond to of 16892
 
DATEK! Please cancel or show the status for my order entered at 13 for FCGI at 10:11, now it is 10:21:31 and it is still cancelling. ... I was "entitled" to a fill at 13 per L II. There were enough prints on the 13" ask. Where are the pieces....

C-200-AAIB-3889

This smells! it is not in hot opening time, especially not for FCGI now. I can not work with Datek at this time.

IS-



To: Sir Francis Drake who wrote (11732)4/26/1999 10:45:00 AM
From: RockyBalboa  Read Replies (1) | Respond to of 16892
 
In the meantime we have 10:42 and the order is still cancelling...

FCGI traded as high as $14 but cratered down under 13 now. NOW I have them when I don't need them. What do you guys think?

THANK YOU THANK YOU THANK YOU

10:42:35 on 04/26/1999

Enter
Date
Enter
Time
Exec
Time
Buy/
Sell

Qty

Stock

Price
Status
Cxl Net Change Balance
Tracking #
04/26/1999
10:11:12

Buy
300
FCGI
13
cancelling...
Day
C-200-AAIB-3889



To: Sir Francis Drake who wrote (11732)4/26/1999 10:51:00 AM
From: RockyBalboa  Read Replies (1) | Respond to of 16892
 
TO ALL: This can happen to each of you! Beware of the black hole!

And Datek please explain or do something for your customers

This is stunning.

The order has been "cancelling" for 1/2 hour. From 10:11 to 10:42, last time I have taken a snapshot.

at 10:44 I got a fill I didn't want any more.

Datek you owe me money. So or so. I ask you to take the deal back. I have no interest in paying another commish.

Either you filled early at 13.

Or you cancelled the order within short time, not even showing it within HALF AN HOUR!!! This is... more than an error, please explain.

Two other orders cancelled within seconds. At the same time.

You had a cancel order since: 10:15. the order activity shows "CANCELLING" for half an hour. The order, if not filled, was no longer marketable. You did not remove the order.

I would have sold at 13 7/8, if I either knew
-that I was filled!
-that I am going to be "filled" soon.

The fill: is here:

04/26/1999
10:11:12
10:44:36
Buy
90
FCGI
13
Bought


$-1,179.99


C-200-AAIB-3889
04/26/1999
10:11:12
10:44:11
Buy
210
FCGI
13
Bought *
$-2,730.00



To: Sir Francis Drake who wrote (11732)4/28/1999 11:27:00 AM
From: RockyBalboa  Read Replies (2) | Respond to of 16892
 
Re: delayed order cancellation.

One representative from Datek named called me and explained that the deal for which the cancelling.... message stood for half an hour, and not actually cancelling the deal, the reason has been a reporting delay by nasdaq.

Just on the phone, right now.

In that case, the order has been soes'd out, but due to a failure, Datek couldn't get any response. A cancellation attempt has bounced in turn, then.

The best thing is to give Datek an immediate call in the case an order does not cancel for quite a time, so they can take measures on such an incident.

IS