Author:  "Steve Cauble" 
Date:    02/02/2000  12:26 PM

Subject: Pleae Reject Proposed Rule No. 34-42343   File No. SR-NYSE-99-47
I respectfully request your rejection of the above listed proposed rule dealing 
with daytrading. I am by this definition a pattern day trader and have been for 
over a year. 
     
The change in margin requirements is unfair to people with trading portfolios 
under $25k.  I have chosen to keep my trading protfolio less than $25k and 
separate from my long term investments.  This is my choice and to be penalized 
for it or made to move other investment funds to my trading account in order to 
meet the $25k limit is wrong.
     
Secondly, the wording of the rule to effectively limit intra day trading is also
unfair and unduly restrictive.  I habitually close all positions by the end of 
the day and should be allow to continue to use my full buying power after a 
pervious position is closed.
     
In conclusion, this rule is unfairly restrictive to the pattern day trader based
only on their trading style and portfolio size and appears to single out them 
from the entire trading public.  I find this interesting when margin debt is 
greater with the longer term investor who has borrowed against his portfolio in 
order to increase his position with little regard for the consequences.  We are 
all aware of the negative publicity the so called daytrader has gotten but I 
submit that traders who have lasted in this business are serious and sincere in 
their efforts to learn and succeed. Please do not hinder our efforts.
     
Please REJECT  Proposed Rule No. 34-42343   File No. SR-NYSE-9947