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To: steve goldman who wrote (780)	6/8/1998 8:58:00 PM
From: Darren	Read Replies (1) \| Respond to of 3216

As well, you have to be careful, because at a certain point the NASD might consider you a professional and then SOES might not be available to you... Professional: Not if it's your own money and not unless you are using SOES to "accumulate a position." Obviously, I am not accumulating a position if I'm dumping it in the same day...

To: steve goldman who wrote (780)	6/9/1998 11:59:00 AM
From: steve goldman	Respond to of 3216

I had a chance to look at caselaw. The discussion that I was referring to was an NASD bulleting regarding SOES eligibility. It was something I was simply reading through about a year ago. It had struck me when I was think of theincredible volume that 400 trades aday constitutes. To clarify the issue, there currently is no 'professional' designation and thus limitation to number of trades a person can do on SOES during the day. Noticetheless notice to members 88-61 still applies (5 minutes rule) etc. The rule used to be that an individual could only do 5 roundtrips in a stock, else be considered a professional. I think this went out in 1995ish. -Steve BTW - we use Appians card in here, 4 monitor card and it works like a dream, its like having one large monitor that you can drag your mouse across. You can also setup hotkeys so a shift f1 throws a certain app into a certian window. The drivers also remmebr where you closed the applications so it pops back up there, critical when you are talkin about such big landscape.