From: Ken Tozier [kentozier@attbi.com]
Sent: Tuesday, June 04, 2002 7:27 PM
To: rule-comments@sec.gov
Subject: Please rework rule 2520 (NASD-00-03 and NYSE-99-47)

I've written two times before regarding SEC rule 2520 and I'm writing 
again because this rule is broken and has to be fixed.

I'm a small investor and am not eligible for the $25,000 and over club 
created by rule 2520, as a result, I'm forced to ration my 5 trades per 
week. This rationing creates an very dangerous condition where it's 
basically necessary to just hope that if a stock dips, it will come back 
eventually, because small investors are not permitted to react nimbly 
like our more wealthy brethren.

Tonight (6/4/02) I'm experiencing the full pain of the 2520 rule 
limitations. I invested in a company that has recently received numerous 
positive analyst reviews and was even mentioned in a recent top 100 list 
of most innovative companies. For this reason, and the fact that my only 
option (short of getting out of stocks altogether) is to ration trades, 
I decided to hold when the stock dipped a little. Tonight the bottom 
dropped out in after-hours trading and I'll be lucky to recoup $6,000 of 
a $15,000 investment at the opening bell tomorrow.

This rule stinks. for god sakes change it and let us little guys have 
some control over our own destinies. I'm not asking for margin 
purchasing power, I'm not asking for the ability to sell short, all I 
want is to be able to buy and sell without the straightjacket of 5 
trades and you're out. I lost nearly 2/3 of my savings because of this 
stupid constraint. Fix it please it does more harm than good.

Ken Tozier