Subject: SEC Proposed Rule Admendment 431 SR-NYSE-99-47

Date:    02/25/2000 1:24 PM
     
     
Dear Sirs,
My living is made from day trading. I pay taxes and provide for my family's 
well-being through that trade. I have had ups and downs in the market but 
generally it has been good to me. Currently, I am experiencing a good streak 
since the end of October. I am concerned about the admendments you are 
proposing and how it will affect my livelihood. There is a big difference 
between people that are trading part time, without training, on E-trade and 
professional daytraders. Professional daytraders know how to work with the 
market not against it and understand there are risks involved. There SHOULD 
be something to protect those novices from the Market Makers!
     
My concern with Congress looking at daytrading is that big interests such as 
established brokerage/market maker houses fear they are losing business and 
try to influence these proposed admendments to push people toward using their 
services. Please do not let their big money influence you!
     
My concern here is you seem to be increasing costs to traders not reducing 
risks. That is taking money out of my families mouths. I am against 
decreasing margin call due dates from 5 to 7 days, against having money in 
account for 2 days vs one day, no release to Day trading buying power(DTBP), 
and hugh trading calls if the DTBP is exceeded. These rules may require us to 
liquidate positions because of your rules and not because of what the market 
tells us to do. I would expect my losses to increase because of this.  If you 
are really trading to reduce risks, please monitor the Market Makers for them 
following the rules of trading. I have seen flagarant violation of the rules. 
They play games to push the market up or down depending on what their 
inventory of stks tell them to do. There should be more disclosure from them 
on what exactly they are doing; buying or selling and how many shares.
     
Please think this through and try to reduce consumer costs not increase them. 
Also I would like to add the Investor Bus. Daily had an article recently 
about the SEC fees that are put on our stock transactions. Please reduce or 
end those. I pay enough taxes as it is. I understand that those fees are 
running a hugh surplus. 
I currently trade my own account at Cornerstone in Dallas office. I know for 
a fact that most of the traders in the office are making consistent profits. 
Thank you for your cooperation,
Terry Laughlin 
972/462-7157
724 Marlee
Coppell, TX  75019