Date:    01/30/2000  12:14 PM


Subject: File Number SR-NYSE-99-47
Gentlemen,
     
I am opposed to the above subject proposed rule which would raise the 
minimum equity requirements for daytraders to trade on margin.
This rule would not only be unfair, but discriminatory against the smaller 
daytrader.
     
Recent advances in computer and networking technology have made it possible 
for ordinary citizens to make their own trading decisions everyday right 
from their homes and offices. This increased access to the markets for many 
people has created greater volatility and liquidity in the markets, which 
is good for all traders and investors. 
     
Althgough I agree that daytrading has increased risk, I do not agree with 
this proposal's solution. The ultimate solution to protecting traders from 
losses is EDUCATION. A trader who is well prepared, knows the risks, and 
takes the time to acquire and hone the skills necessary for success will not 
have large losses. Someone with a $25K portfolio does not necessarily make 
better trading decisions than someone with a $20K, $10K, or $2K portfolio. 
Strict stop loss dicipline and a regimented, diciplined approach to trading 
is the key.
     
I am also very disturbed that such rule changes, which have such a major 
impact on myself and many others in this nation, are being made by 
administrators, and not by duly elected representatives.
     
In the interests of fair and free access to the US securities markets for 
all citizens, I urge you not to approve this proposed rule.
     
Sincerely,
     
Larry G. Yori
Rt 1 Box 359F
Fernley, Nevada 89408
     
     
CC:     Representative Jim Gibbons 
        Senator Richard Bryan