Subject: Reference to File Number SR-NYSE-99-47 
Author:  "Jerald Hayes" 
Date:    02/10/2000 4:15 PM
     
     
To Whom This May Concern,
     
I'm for the new proposal of raising the requirement to $25,000 with the 4 to 
1 margin rate. I believe as trader
unless you have substantial capital and by substantial
I mean $25,000 or plus cash. I believe you don't have much of chance 
profiting in the daytrading business. I believe the $25,000 minimum would 
raise the threshold enough to keep those who are trading from risking there 
money in a risky venture such as Daytrading. If they are serous about 
trading and want to learn the forces that impact trading they will build 
there capital reserves slowly but surely through less risky position trading 
till they believe they have enough capital on hand to enter a more 
speculative type of investing such as daytrading . By raising  the limit to 
do daytrading you create hopefully a smarter and more savy investor as well 
as save him or her from themselves by losing money they probaly can ill 
afford trying to get rich fast. Becasue that potential trader will take the 
time to understand the marker forces the affect stocks where as before there 
just jumping in and losing they money.
     
sincerely,
jphayes