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

To: Jim Furley who wrote (12330)	6/1/1999 10:25:00 PM
From: ciVic	Read Replies (1) \| Respond to of 16892

I am getin a datek account <cringe> please be gentle... I have a couple questions tho....one about MARGIN.... this what the datek page has to say about it.. ::::::::::::::::::::::::: Example: Margin-disabled vs. Margin-enabled account Account balances: Your Real Cash total is $500 and the value of your marginable** securities is $2,000. With a margin-disabled account, you can buy up to the value of your Real Cash - $500. With a margin-enabled account, you can purchase up to $1500 in non-marginable securities ($500 cash and 50% of your marginable long stock value). In addition, you can purchase or short sell marginable securities up to the amount of your Buying Power - $3000! (Buying power is always double your Available Cash.) Regardless of whether you have a margin-enabled or margin-disabled account with Datek Online, you will receive 3.5% APR on all positive Real Cash balances (funds currently held as cash in your account). This does NOT include funds generated from short selling securities. Whichever option you choose, Datek Online has found a way for you, the self-directed investor, to win! :::::::::::::::::::::::::::::::::::::::::::::::::::: NOW...ny question is....whatis all that talk about that margin long stock using it to give you more margin $$?? I don't get it. PLus...how does margin work on shorting? do you have have to use your cash to short..with the margin being there only to cover losses?? if I had 5K cash..do I get 10K cash...or so I have to owne a stock long as colatoral...or what?? SECOND comment... with the summer volume coming down....shouldn't DATEK servers be more effiecient and not break down? it should be smooth runnin all summer...I think. Just like the last week or two have been with the slow volume....ya know??? anyways.....my account just got activated..but I haven't wired any money there yet....I guess I'll be started my adventure once I do that eh? see if my money ends up in my account :) nb