Date:    01/30/2000  12:41 PM

Subject: File Number SR-NYSE-99-47 

To whom it may concern:
     
As a small position trader/daytrader with an account under $25,000 i must 
vigorously oppose this proposed new rule. I have been able to grow a small 
account to almost the minimum you speak of however i would not have been able to
achieve this with the rule you propose and many like me who are just turning 
this into a viable occupation will suffer. I think this is unfair regulation of 
the small guy and I believe education is far more important than regulation.
     
I have many friends who have been successful with their small accounts and now 
are making their livelihood this way. Your regulation could put them out of 
business.
     
Why not focus your efforst instead upon education which is the only thing that 
will keep anyone in this business in the long run, because no matter what the 
size of ones' account the risks are huge if one is uneducated.  Someone with 
$25,000 is still in my opinion barely capitalized and you are handing that 
person the right to use 100,000?  That is awful in my opinion. Although I do 
believe in using some of one's margin, I never use all of mine and certainly 
never overnight. Giving someone that kind of margin should be something only 
done after someone has proven their ability or after so many years in this 
business otherwise i think disaster is almost certain. 
     
Please consider my request and consider some other means of "protecting" the 
small guy if that is indeed the intention of this proposal.
     
Thank you, 
     
Elly Hereth