Mr. Jonathan Katz Securities and Exchange Commission April 13, 1998 RE: SR-NASD-98-21 Dear Mr. Katz: I have never written a comment letter before, but felt compelled to do so with this rule that you are considering. The Actual Size Rule (even its name is a misnomer), has had such a tremendously negative effect on my ability to invest. I can't get into a position at a decent price, and never know how many pieces I will be filled in or at what price levels. It's even worse getting out of positions -- it looks like I have a profit, and in seconds I'm on the losing end of the deal. It seems the only ones making money any more are the Market Makers. I know you may think that I am just imagining things, or that there are just more people trading and so this must be expected - but the change occurred simultaneously with the rule implementation. A Market Maker will jump into an ECN with a 100 share order, and then, when we can't SOES, all the other Market Makers back away from their quotes - either they change them to 100 shares or they change levels completely. I thought the Market Makers were suppose to do what their name implies, make a market -- what kind of a market is it if it is quoted in 100 share lots. There is not fluidity, no depth and no accountability. When I started utilizing the SOES system and trading more on NASDAQ I thought it was such a wonderful market place. Now it just seems to be the market place for fools, 'cause that is what the Market Makers are playing us for. We are dependent on the SEC to keep the NASD from tucking awful pieces of rules in with basically good ones. They are acting more like the Senate every day. Then they do their own analysis and send it to you as if it is real. Don't be played like we are being played - stand up to them and keep this market an honest place for individuals like myself to invest their hard earned money. Sincerely, Teresa King 1430 Fronteir Valley Rd. #43 Austin, Texas 78741