Securities and Exchange Commission
San Francisco District Office

Dear Sir:

Since I started investing in common stocks in 1989 I have been bothered with stocks rising or falling significantly for no apparent reason. However, it never fails that shortly there after the rise or fall, the company will announce a pertinent news story that will explain the rise or fall.

For example, Namic USA, Corp. last July had a stock price of $7-8. Since then Namic reported its forth quarter "94" earnings which showed a decline in earnings of %21 (as compared to same quarter a year earlier) and they reported 1st quarter "95" earnings which showed a decline in earnings of 9%. Since July the stock has gone to $13 5/8 and during that rise of approximately 82% Namic only reported news stories showing earnings down from the prior year. Today, Namic reported that they were being acquired by Pfizer for $18 1/2 a share. The stock went up another $3 3/4 today.

It is not surprising that the stock went up $3 3/4 today because of the merger, but it is amazing that the stock went from $7-8 a share in July to $13 5/8 last Friday on negative earnings reports. Why were there buyers for this stock during that period after Namic reported earnings were down for the forth quarter "94" by 21% and earnings were down for the 1st quarter "95" by 9%?

Everything I read about the SEC says that I'm protected from insider trading, but every time I turn around there is another example of a stock moving a lot before the news is even aired. Am I protected? Will the SEC investigate Namic USA, Corp? If not, why not?

My main concern here is to find out how the game is played. If insider trading is a large part of it (which the number of stocks moving a lot before news is announced shows) then fine, I will have to live with it. But, if insider trading is against the law it needs to be stopped or at least slowed down from the level it is at now. What can I do to help?

Sincerely,