From: Eric Boller [eboller@yahoo.com]
Sent: Wednesday, August 29, 2001 9:13 AM
To: rule-comments@sec.gov
Subject: New Day Trading rules

The new rules that label someone as a pattern day
trader and requiring them to keep a balance of $25,000
is preposterous.  Where do you get the right to tell
people how to spend/invest/trade their money?  I can
understand concern over traders overextending
themselves--if that is the case then perhaps folks
with less than $25,000 should not be allowd to go on
margin.  However, even that should not be regulated by
the government!  That should be a brokerage decision. 
Not yours!  What if someone with under $25,000 decides
to invest in a couple of companies on the same week. 
That's 2 trades already.  They also put stops in place
to make sure they get out if something "bad" happens. 
If these 2 stocks are stopped out that same week then
they will be labeled pattern day traders.  This is
ridiculous.  Allow people to spend/invest money as
they please.  Do you really think that you know what
is best for everyone?  Please!  

By the way, these rules do not necessarily affect me. 
Except that I have 2-3 different accounts.  One of
which is under $25,000.  Now if I "pattern day trade"
that account--it will be closed?  Even though I have a
total of $170,000 in all my accounts?  Please rethink
your regulation.  It does nothing but hurt the
individual investor as well as liberty in general. 
The government taxes the hell out of us--and then we
are regulated in how we decide to capitalize on the
rest of our money?  Please re-read the bill of rights
and constitution and learn from it.

Eric Boller

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