From: neil yalowitz
Sent: Saturday, January 10, 2004 11:08 PM
To: rule-comments@sec.gov
Subject: (SR-NASD-00-03 and SR-NYSE-99-47) NASD Rule 2520 --UNFAIR!!!

I am writing to express my disappointment and shock at rule 2520 which 
requires $25,000 in equity before day trading is permitted.  This arbitrary 
equity amount effectively excludes new and small traders from using the 
stock market to it's fullest extent.  Risks for investors are clearly stated 
by US brokers; no investor can claim ignorance to the dangers of day 
trading.  However, the SEC asserting its presence as if it is a protective 
parent of every small investor is INAPPROPRIATE.

CHANGE THIS DISCRIMINATORY RULE.


Neil Yalowitz