From: John M. Hollen [mailto:jmhollen@earthlink.net]
Sent: Saturday, February 07, 2004 3:09 PM
To: 'help@sec.gov'
Cc: 'cfletters@sec.gov'; 'marketreg@sec.gov'; 'imocc@sec.gov';
'enforcement@sec.gov'
Subject: File No. S7-23-03 - Proposed Regulation SHO - Release No.
34-48709 (Oct. 28, 2003), 68 FR 62972 (Nov. 6, 2003) 
Importance: High


Jonathan G. Katz, Secretary
Securities and Exchange Commission
450 Fifth Street, NW
Washington, D.C. 20549-0609

Re: File No. S7-23-03 - Proposed Regulation SHO
Release No. 34-48709 (Oct. 28, 2003), 68 FR 62972 (Nov. 6, 2003)

Dear Mr. Katz,

You recently received a communication from Knight Trading Group, Inc. John 
H. Bluher Executive Vice President and their General Counsel. It was 
obvious from his carefully constructed "..whine..", that Knight (NITE) is 
unhappy with the proposed changes in SEC regulations and trading policies - 
especially in the MicroCap and Mini-MicroCap (pennystock) marketplace.

Please accept that we as the general low-priced stock investing public, and 
me personally, view any such communication from NITE as a blatant 
confirmation of their desire to continue their ENDLESS CHEATING, DIVISIVE 
TRADING PRACTICES, ILLEGAL NAKED SHORTING TO ARTIFICIALLY CONTROL & 
MANIPULATE SMALL EQUITY PRICES TO THEIR PROFITABLE ADVANTAGE, TRADE THEIR 
OWN AND SPECIAL INSIDER ACCOUNTS IN ADVANCE OF THE PUBLICS', AND AVOID ANY 
REGULATION THAT WOULD BRING "NITE" UNDER CONTROL.

Knight Trading Group, Inc. is constantly under investigation and being 
fined or reprimanded for questionable practices by the SEC and NASD.  Were 
a poll to be taken of the investing public, NITE would probably be shut 
down permanently.

I personally view NITE as the investment communities equivalent to the 
MAFIA, who apparently have such great influence over their peers and 
regulators that they can lie, rape, cheat and steal with virtual impunity.

Please be clear that the general opinion, were anybody to ever ask, of 
those who are most often affected by NITE's deceptive practices is:
"...If NITE doesn't like it - it is a RULE or POLICY that needs to be made 
even more stringent and enforced with great vigor - as of the day before 
yesterday.."!!

Respectfully,

J. M. Hollen, EE
Engineering Consultant and Investor
Iowa