May. 13, 2020
Comment on SEC Proposed Rule #S7-24-15: I HAVE FEW UNITS OF SOXL. RECENTLY, I RECEIVED A LETTER SAYING THAT SEC HAS PROPOSED REGULATIONS THAT MAY LIMIT MY ABILITY TO TRADE LEVERAGED AND INVERSE FUNDS. TO WHOM IT CONCERNS: I UNDERSTAND THE CHARACTERICTIS AND RISK OF L&I FUNDS. THUS, MY INVESTMENT IN SUCH PRODUCT IS NO MORE THAN 5% OF ALL INVESTED CAPITAL SOME OF THE RISKS OF L&I FUNDS: LOSS CAN BE AMPLIFIED, LACK OF LIQUIDITY WITH SOME LEVERAGED OR INVERSE ETF. I MONITOR MY POSITIONS AT A DAILY BASIS EVEN WHEN THE INVESTMENT IS FOR MEDIUM OR LONG TERM I DISAGREE WITH THE FACT THAT MY BROKERAGE FIRM SHOULD HAVE THE RIGHT TO DECIDE WHETHER I AM SUFFICIENTLY "CAPABLE" TO ASSESS SUCH RISK. ANYWAY, MANY OF BROKERAGE FIRMS- HONESTLY- PLAY AGAINST THEIR CUSTOMERS. NO NEED TO GIVE EXAMPLES: SPREADS, 'A' BOOK, SPEED EXECUTION, FEW CHOICE OF ORDER TYPES, ETC. I HAVE NEVER RECEIVED ANY WARNING RELATED TO SUCH INVESTMENT FROM MY BROKERAGE FIRM. I UNDERSTAND THIS PRODUCT AND MANAGE IT DAILY FOR SHORT AND LONG TERM DEPENDING ON MY FINANCIAL GOALS I THINK I SHOULD QUALIFY TO CONTINUE TRADING L&I FUNDS: I HAVE MANY TIMES BOUGHT AND SOLD TICKETS LIKE SOXL, WEBL UBOT, VXX, HED.TO, ETC. I KNOW THAT WE HAVE TO PUT NO MORE THAN 10% OF OUR CAPITAL IN SUCH PRODUCT AND IT HAS TO BE DAILY MONITORED. SINCERELY