From: fun [efaust@starpower.net]
Sent: Wednesday, August 29, 2001 12:08 AM
To: rule-comments@sec.gov

Dear Sir or Madame
NASD Rule 2520 that are beginning to take effect. these amendments now 
require minimum equity of $25,000 to be in an account on any day in which 
the customer day trades. . In principle I find this rule to be fascist, 
elitest and a discriminatory and patronizing conspiracy to eliminate 
the little guy and give the control of investment dollars back to the 
institutions. The amount of capital in a trader’s account is not an 
indicator of whether the trader will be a successful daytrader.
 
A larger account in fact now means more margin, and thus MORE risk. 
From my experience as a daytrading instructor, the most tragic cases I 
have witnessed have not been the small investors, losing a mere $2,000, 
which was the previous minimum requirement. It has been those that have 
come in with large portfolios and no education, who have made rash and 
ignorant decisions, with too much money at risk. 

In any other area, where people are being self-destructive, the answer 
has been education, not restriction. These rules restrict and limit 
education to those with money, sabotaging the American dream for 
independence for all those that do not have enough money to get their 
foot in the door. 

I am outraged by this

ed foster