From: BJJMCJ@aol.com
Sent: Monday, June 28, 2004 9:52 AM
To: rule-comments@sec.gov
Subject: File # S7-10-04

Jonathan G. Katz
Secretary
Securities and Exchange Commission
450 Fifth Street, NW
Washington, DC 20549-0609

Mr. Katz, 

    I am an 12th grade Economics teacher at Ossining High School in Ossining, New 
York.  I spend much of the semester talking about the stock market in class and I 
stress the importance of investing with my students.  I am also an individual 
investor.  I have been following the debate over the trade-through rule and I am 
worried that the small investor, like me, will no longer be able to get the best 
price for the stocks that I wish to purchase.  The trade through rule allows for a 
level playing field for all investors, both small and large.  The opt-out 
provision would be a great disadvantage to small investors like me. My confidence 
in the stock market has taken a big hit over the past couple of years and the 
changing of a rule that is in place to protect investors will only add to my lack 
of confidence in the market. Please help the small investor and make sure that I 
can get the best price for the stocks I wish to purchase.  Thank you very much for 
your time.

                                                                                        
Sincerely,
                                                                                        
Barry Jaffess