Date:    01/31/2000  2:54 PM


Subject: File # SR-NYSE-99-47

I would like to comment on the proposal to increase the margin requirements 
from $2000 to $25,000 to be able to participate in daytrading activities.  I 
'm opposed to this for the following reasons
     
*       The size of a persons account is not going to make him a good or a 
bad daytrader.  I only see this as a way to squeeze out the small trader and 
leave this trading opportunity to those with the large accounts.
*       The Small Business Administration doesn't impose rules on me like " 
If you want to start a car wash you have to have $25,000 instead of the 
$10,000 that you have"
*       I have seen many people work hard and go through allot of hard 
knocks to turn their small trading accounts into a viable business.  With 
the implementation of these new margin rules the opportunity will be taken 
away from many people.
*       The crux of the problem of people losing money in the stock market 
is the lack of education not the size of a persons account.  If you as a 
committee want to require something you should come up with a test that 
people have to pass before they trade.  I'm sure there are plenty of private 
education businesses out there that would be happy to volunteer to help 
write the quiz and provide education materials to educate people about this 
fantastic business opportunity.
     
Thanks for your time.
     
Chad Miller