From: Larrylgs@aol.com
Sent: Thursday, May 06, 2004 10:12 PM
To: rule-comments@sec.gov
Cc: senfronia.thompson@house.state.tx.us; robert.talton@house.state.tx.us; 
wayne.smith@house.state.tx.us; rick.noriega@house.state.tx.us
Subject: File No. S7-11-04
SEC Members:

       I strongly oppose instituting a 2% redemption fee on mutual fund shares 
that are traded within 5 days of purchase. Why? Because 90% of funds don't 
currently have redemption fees.  Why? Because they've obviously concluded they 
don't have an abusive trading problem.  Therefore, there is no logic in imposing 
the 2% redemption fees.  Don't "tax" 90% of the public because 10% are trading 
abusively. 

       "<5 days" now,  will evolve into "<6 months" later on .

Thank you,
Larry Sanders (non-abusive owner of mutual funds)