Date:    01/30/2000  8:23 AM


Subject: File Number SR-NYSE-99-47
January 30, 2000
     
Secretary, Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549-0609

     
I am writing in regard to the proposed change to rule 431 and NASD Rule 2520 
(higher level of margin requirements for "pattern daytrading" accounts). As an 
active trader with less than the proposed minimum equity in my trading account, 
this rule would adversely affect me. Since becoming involved in "daytrading" in 
April of 1999, I have invested a significant amount of time and money in 
learning to trade successfully. My investment includes computer equipment, fees 
for stock quotes, fees for education in trading techniques as well as some 
losses from my trading mistakes. This proposed rule change to increase margin 
requirements would effectively put me out of business. Not only is this a 
concern to me, but I believe the proposed rule change is fundamentally unfair to
the individual with a small amount of equity with which to trade. It is my 
understanding that the markets are governed to allow all individuals to 
participate on a level playing field. A change to the current minimum equity 
requirements would not accomplish that goal, in my opinion, and could work 
unfairly to give the upper hand to those with more margin buying power. As it 
stands now, market manipulation is commonly practiced by market makers of large 
brokerage houses and institutions to suit their goals. Eliminating the trader 
with less trading equity will only serve to throw the balance further in the 
favor of those with more trading equity. 
     
     
I cannot be too sure of the real goal of this proposed rule change, but I am 
sure that it is not in my best interest; and I would consider myself typical in 
terms of those currently practicing "daytrading". Trading is my livelihood and 
my sole source of income at this point. I would like to see the margin 
requirements stay at the current level of $2,000 equity for all accounts, 
regardless of the type of trading activity that is done. Keeping the margin 
requirements at their current level is in the best interest of the 
trading/investing public. Please see that this letter is delivered to the 
appropriate party.
     
     
     
     
     
     
     
Keith Boyle
     
32674 Donna Drive
     
Conifer, CO 80433
     
(303) 674-6128