From: George Magnus
Sent: Friday, April 06, 2001 1:51 PM
Subject: file no . S7-24-99



--- George Magnus

In reference to question 9: Is it appropriate or preferable to base short
sale regulation on general market movements rather than the price of
individual securities? The answer is yes.

In a down market only 10% make money( Market makers and Institutions).The
90% in 401K, IRA and Keough accounts lose money. Because of the large
number of people in 401K,IRA, and Keough accounts, and this money is there
for retirement,something has to be done to protect the majority and stop
the Market Makers and Institutions from taking advantage of a bad situation.