Subject: File No. S7-24-15
From: weldon phelps

January 29, 2020

I have have had leveraged shares such as TQQQ for several years and plan to buy more in the next sustained dip. If one had bought that fund ten years ago it would have doubled over 5.5 times by today. By contrast, the SP 500 has doubled by 1.7 times over that time. I don't buy any more than I can afford to lose and would not like to lose the right to buy them.