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Non-Tech : Datek Brokerage $9.95 a trade -- Ignore unavailable to you. Want to Upgrade?

To: Morpher who wrote (11748)	4/27/1999 2:07:00 AM
From: Ira Player	Read Replies (2) \| Respond to of 16892

I'm confused about representation on Island. Could someone help with info? I have placed several trades lately using limits. An example follows. I enter a limit order for XXXX shares of CIEN at $22. It is immediately reflected on Island. I get several partial fills, amounting to about half my buy. The original XXXX shares stay on Island for 10 minutes. A few more shares trickle in. Island still shows XXXX shares bid at $22. I get all but 2, yes 2, shares at $22 before the stock moves away and I decide to cancel the order. Island still shows XXXX shares bid at $22. Cancel 2 shares. Island (after about 15 seconds) clears the XXXX shares at $22. About 6 minutes later, I get cancel confirmation. Is this normal? I have to assume the shares at $22 were mine. Why didn't the XXXX amount change as my order was filled? Doesn't this give any people looking at Island the impression that there is more depth than really exist? If Island updated in about 15 seconds, how come the cancel took 6 minutes to show up in my daily activity? Thanks in advance, all ye experienced threaders. Ira

To: Morpher who wrote (11748)	4/27/1999 10:14:00 AM
From: Spots	Read Replies (2) \| Respond to of 16892

The volume pressure must be getting to them. I just got the Email below from Datek. Understand that my account has been at zero assets, zero balance for months. Naturally requests to close it have been ignored, just like all requests to Datek. It does, however, partially answer a question I've been asking for years, which is: "What is the value of 0/0?". Now we have an important clue. It's "approaching 30%" <ggg>. Presumably approaching from above, otherwise they would have "taken action" to correct it. Sold half of those zero assets, or some such <GGG>. Dear Mr. <spots> This is to inform you that your equity-to-account value ratio is approaching 30%. If this ratio falls below 30%, you will have three business days to either make a payment or sell some of your portfolio. However, Datek Online reserves the right to take action at ANY time if market conditions warrant. Your current margin ratio is: 0.0% If you have any questions, please call us at (732) 744-8800 or email us at margin@datek.com.