Subject: File No. S7-11-04
From: Tim F Nelson

March 14, 2004


We do not need the government to take MORE money out of the individual investors pocket to supplement the mutual fund industry If the fund does not want us to trade often, THEY can decide to impose fees on us Please do NOT make this an across the board rule.

I trade the Rydex funds and sometimes I trade every day and other times I may not trade for months. Why should I be penalized when my strategy tells me to trade more often? It has done very well for me so far

So, please, no more trading regulations that hurt the small investor

Best regards,

Tim Nelson