From: Sahal, Deejay [v51@yahoo.com]
Sent: Saturday, August 25, 2001 9:28 AM
To: rule-comments@sec.gov
Subject: Proposed NASD Rule 2520

Greetings.

I am horrified to learn that the government would be
requiring day traders (through the proposed NASD Rule
2520) to have minimum equity of $25000 before they can
daytrade or use margin for daytrading. 

This proposal is fundamentally flawed because
daytrading is financially risky not due to low account
balance or personal net worth but due to personal
ignorance. If a daytrader is well informed he can be a
model trader with even $2000 in his account.

It is like saying no car worth less than $25000 is fit
for driving. We require that drivers pass a test and
be licensed (and not that they have a high net worth)
before they engage in the decidedly riskier behaviour
of driving on our nation's roads.

I respectfully request the authorities to please
reconsider this move. If it is adopted a lot of very
well informed but poorer daytraders would be shut
down. Instead of the $25000 requirement, daytraders
must be required to have a trading license to
daytrade, much like a driving license.

Sincerely yours,
Deejay Sahal






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