April 13, 1998
     
     
SEC
450 Fifth Street, NW
Washington, DC  20549
     
RE: SR-NASD-98-21
     
To the SEC Commission:
     
I understand their are some drastic changes being considered which would 
change the course of electronic day trading in the future. I know there 
is an opportunity with "SOES" to manipulate the NASDAQ market according 
to the NASD whom I understand represents the Market Makers. To the 
surprise of my peers, I would not deny this fact at all. By providing 
access to the stock prices, there are specific times in which the system 
fails and gives us an advantage over the Market Makers. I proclaim to 
you today that these instances are the exception to the rule with their 
infrequency. I would hate for the commission to pass legislation that 
quells these infrequencies but in the process denies small investors 
access to the market on a daily basis. THIS IS THE MAIN CONCERN I HAVE. 
I think the NASD lobbyists have skewed the rational behind these new 
changes as they substantiate justice with four specific days of 
excessive volatility out of a calendar year. All we ask is that the 
Market Makers honor their prices on the "bid" and "ask". "SOES" 
represents Market Maker accountability and expedites closing the spreads 
in all stocks for other small investors who chose to donate passive 
activity to the stock market. I once heard that "SOES" makes up 30% of 
the NASDAQ daily volume. No wonder the NASD wants to terminate "SOES". 
It has a direct impact on their bottom line. I can't speak for everyone 
else, but all I want to do is trade without any overnight risk. This 
allows me to take ownership of the stocks intraday and in the process 
forces the Market Makers to offer honest and fair prices to other day 
traders (overnight investors). This might not be a fair statement but 
the NASD's motivation is the Market Makers bottom line. "SOES" and the 
current restrictions in place I think might be the last barriers to fair 
and free trade in the market place. If you have any questions concerning 
the above information, please call me @ (512) 342-8366. Thank you for 
your time. 
     
     
                                                Sincerely,
     
                                                Steven H. Oberle
     
     
Steven Howard Oberle
5217 Old Spicewood Springs Rd. Apt 1201 
Austin, Tx. 78731