From: Mark Drury [mdrury@kc.rr.com]
Sent: Sunday, May 09, 2004 4:39 PM
To: rule-comments@sec.gov
Subject: Release No. IC-26375A; File No. S7-11-04

As an individual investor, I am apalled at the makeup of this proposition.  The very 
companies who pillaged and profited from real insider trading in an illegal manner, 
are now attempting to influence the SEC at the expense of individual investors.  I 
occasionally trade mutual funds in accounts for my wife and I.  It's ludicrous to 
hold a fund which is losing money, regardless of what the experts say.  It's more 
dangerous to hold individual securities.  If the goal of the SEC is to protect 
investors, this proposal is obviously biased towards fund management.  This same fund 
management were clearly identified as the cheaters in the mutual fund scandals of the 
past year.  The media has confused fund management trading after close at the days 
NAV with individuals trading in and out of mutual funds.  If this rule stands, the 
SEC has bowed to political pressure and it will be an even bigger finacial blow to 
individual investors.  Fund expenses are already out of control.  Free enterprise is 
the way this should work, not additional regulation.  If the funds choose to 
establish trading rules, so be it.  They don't need more regulation to limit 
individuals from participating in the commerce of the United States of America.  
Please rethink your plan.  Thank you.