From: Alexander Costa [xan2000@mindspring.com]
Sent: Wednesday, August 15, 2001 8:00 PM
To: rule-comments@sec.gov
Subject: Absurd rule


The 25,000 requirement for day traders is absurd. You are squeezing 
out of day trading small investors or those who just want to day trade 
a small amount of their funds with low cost/high speed trading platform 
specialized brokers. There are brokers who charge 1.00 a trade which 
makes it possible to day trade profitably with as low as 2000. Day 
traders increase the liquidity of the market, do not affect the overall 
situation of the market since they will close their position on the same 
day. There are no risks for brokers or clearing houses. Losses are taken 
care after each trade, only if someone held a stock the whole day and it 
plunged more than 50% intra day would a margin trade put at risk the 
brokers. This rarely happens and only a non-day trader would hold a stock 
through such a plunge. The SEC and the NASD need to CONSULT ANTI-TRUST 
LAWS (big traders are coluding to squeeze out small traders). You are 
creating a HIGHER BARRIER OF ENTRY! ! for the trading activity, squeezing 
out small traders. Will contact department of justice's Anti-trust department! 

--- Alexander Costa
--- xan2000@mindspring.com
--- EarthLink: It's your Internet.


--- Alexander Costa
--- xan2000@mindspring.com
--- EarthLink: It's your Internet.