Author:  "Dr. A. G. Bradford; Jr." 
Date:    02/15/2000  1:48 PM

Subject: File SR-NYSE-99-47

I am a customer of cornerstone securities and would like to comment on 
some of these proposed rule changes. I understand the purpose of these 
changes is to reduce the risk of total account loss to stock investors 
and to the securities industry.
1. Your definition of a pattern day trader would include investors who 
only trade moderately. While a low volume or inexperienced trader might 
benefit from helpful risk management, in this rule there is no effort to 
recognize the professionalism and proficiency of the experienced trader. 
If a formula that included experience, average number of trades per
day,  equity in the account, and the securities firm's experience with 
the trader to split the rules into a group for light volume and novice 
traders, and another for experienced professional traders.
2. Day trading calls and and single strike and your account is closed 
proposed rules amount to a death sentence for a trader for a mistake that 
may have been made by others and do not manage risk but impose a 
draconian penalty on the trader even the mistake is someone else's.  I 
generated a Day Trading call a month back due to a computer error and an 
error at the securities firm, and had only 30 minutes to deliver 
$20,000.00 cash, which was physically almost impossible as I had left 
town on business. Just to find some one to deliver the check much less 
arrange for the money to get into our payable account on this short 
notice, I couldn't even sell stock to cover, even though the account had 
50 times that much in equity. This penalty would have been millions, even 
though these were a very profitable trades, and there was no risk as all 
contracts were cleared before I left that morning, and I was told every 
thing was clear, but was contacted that afternoon late to say their had 
been a computer and bookkeeping error.
     
respectfully yours,
A. G. BRADFORD