From: Bryan, Carl - Eastman [cabryan@eastman.com] Sent: Tuesday, January 13, 2004 3:19 PM To: rule-comments@sec.gov Subject: S7-26-03: As a small investor that utilzes technical analysis and momenturm fund trading, this would severly restrict and monetarily penalize fund switching. The 30-day or 60 day restrictions just allows the funds to hold you in the fund and penalizes for some reasonable swaping. This should not be implemented to just stop hedge funds from trading after 4:00 or after market closure. For those people that do some swapping in their 401k this penalizes them as well. The fund industry can do other means to prevent after hour trading which is not market timing.