From: GOBBLEJ@aol.com
Sent: Thursday, February 05, 2004 10:41 PM
To: rule-comments@sec.gov.
Subject: file S7-26-03

To Whom It may concern.

    My Name is Jon Gobble and I would like to make some comments on the new 
rules you might be getting ready to make on the holding time on how long you 
have to hold a mutual fund and that if you sell it before your time limit 
there will be a penalty and flags raised for an early transaction. Let me 
start by saying that I think this does nothing to address the infractions 
that were committed with the late day trading of mutual fund exec's. What you 
are thinking about doing is penalizing the little guy or girl which like to 
keep an eye on they're money and control they're money as they see fit. If I 
get scared and want to sell after a week or so and sell or buy I would not 
like to be penalized for I have done nothing wrong, illegal or unethical. 
This might make you look like some action has been taken but the bad guy's 
get away. If you wish to make some new rules that directly address the 
infractions of late day traders, timers do that and burn they're ass up, 
but don't make us little guys scape goat. One broker told me its the little 
guys that have to pay. I hope you will not make new rules on penalties or 
fees on mutual funds for more than a week. I hope you will consider my 
opinion or hope you just read the letter.


                                              Sincerely.

                                              Jonathan E. Gobble  R.L.S.