Subject: Rule No. SR-NASD-98-21
Date:    4/13/98 6:26 PM
     
     
For the last five years, I have been a day trader and a public 
customer.  No regulation has ever affected me more than the Actual Size 
Quote Rule.  The minimum quote rule has affected my trading greatly. 
Market makers manipulate the 100 share quote by either staying on the 
bid or offer showing 100 shares for a period of time to kill the 
momentum of a stock.  If the quote was 1000, they would not withstand 
that many hits.  If the maker knows that he/she needs to fill a certain 
number of shares, they should show that volume quote instead of filling
in 100 share increments while showing a 100 share quote.  A market maker 
may also use an ECN for the same purposes of killing the momentum move 
in a stock by continually displaying  a 100 share qoute.
     
For these reassons, I feel it would be in the best interest of the 
public that the NASD does not extend the quote size rule to all stocks. 
In fact, the rule should return to a higher quote such as 500 or 1,000 
shares.
     
Sincerely,
     
Steven Livitz
1717 W. 6th
Suite 310
Austin, Tx    78703