From: James Hixson [jhixson@cox-internet.com]
Sent: Tuesday, March 23, 2004 10:55 PM
To: rule-comments@sec.gov
Subject: S7-11-04: 

5 day 2% Ok.  If you buy and then sell in just 5 days you need to pay cost.  
Small investor and all that government record keeping FOR GET IT.  Who can't 
wait a week for their money?  If you can't wait a week you should not have 
bought in the first place.  Give me a break "emergency"  5 lousy days!!  Just 
make sure 2% goes into fund and NO EXTRA CHARGES going to management!!  Forget 
all that other junk.

Real problem is you must not move trading time up from Pam placed with what 
ever agent is licensed not received by the fund by 4PM.  Also 4 exchanges a 
year with NO PENALTY should be allowed.  I held a fund 6 months and made one 
sale for the year and 18 months later and the fund down 60% and they said I 
could not repurchase because I was a Trader!!  That is a direct violation of 
the written prospectus.  No one should be able to be bared from repurchase 
unless the have exceeded the number of exchanges allowed by prospectus.  

Make sure everyone treated equal by fund families.  Fidelity allows 401K's of 
Vista Chemical to have 1 exchange per MONTH.  But public limited to 4 exchanges 
a year.  Public should get what every anyone else receives.  No cloned funds 
etc with different rules.  Funds today are very specialized and not balanced 
so because fund MUST STAY FULLY INVESTED, more exchanges are needed to manage 
risk because the fund managers can not raise large amounts of cash or buy 
bonds to protect shareholders.

Thirty to sixty days should be maximum required holding period or you destroy 
right to make 4 exchanges per year.
Thank you,
James Hixson