Legal Notices and Disclaimers

DISCLAIMER

Four Sigma Trading ("Four Sigma" or "we" or "us") is not registered as an investment adviser. For all of its publication services, Four Sigma Trading relies upon the "publishers' exclusion" from the definition of investment adviser under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws. As such, Four Sigma Trading does not offer or provide personalized investment advice. We publish information about companies in which we believe our readers may be interested and this information reflects our sincere opinions. The information that we provide (or that is derived from our website) is not, and should not be construed in any manner to be, personalized advice. Also, our website and the information provided by us should not be construed by any subscriber or prospective subscriber as a solicitation by Four Sigma Trading to effect, or attempt to effect, any transaction in any security. Investments in the securities markets, and especially in options, are speculative and involve substantial risk. The information that we provide or that is derived from our website should not be a substitute for advice from an investment professional. We encourage you to obtain personal advice from your professional investment advisor and to make independent investigations before acting on the information that you obtain from Four Sigma Trading or derive from our website. Only you can determine what level of risk is appropriate for you.

Prior to buying or selling an option, an investor should read and understand the booklet "Characteristics and Risks of Standardized Options." You can access and download a copy of the booklet from The Options Clearing Corporation's (OCC) website at http://www.theocc.com/publications/risks/riskchap1.jsp. This link is provided as a courtesy to you and does not imply that the OCC is endorsing Four Sigma Trading or any of its products. This booklet is also available for free from your broker or from any of the U.S. options exchanges.

We encourage our readers to invest carefully and to utilize the information available at the web sites of the Securities and Exchange Commission at http://www.sec.gov, and the National Association of Securities Dealers at http://www.nasd.com. You can review public companies' filings at the SEC's EDGAR page. The NASD has published information on its web site about how to invest carefully. Most of the information on our website or that we otherwise provide is derived directly from information published by the companies on which we report and/or from other sources we believe are reliable, without our independent verification. Therefore, we cannot assure you that the information is accurate or complete. The information may contain discussions of, or provide access to, certain positions and recommendations as of a specific date. Due to various factors, including, but not limited to, changing market conditions, such discussions and positions/recommendations may no longer be reflective of current discussions and positions/recommendations. We do not in any way warrant or guarantee the success of nor endorse any action which you take in reliance on the information that we provide or that is derived from our website.

As indicated above, Four Sigma Trading makes no representations nor warranties about the accuracy or completeness of the information contained on or derived from Four Sigma Trading's website or otherwise provided by Four Sigma Trading. Any links provided to other websites are offered as a matter of convenience and are in no way meant to imply that Four Sigma Trading endorses, sponsors, promotes or is affiliated with the owners of or participants in those sites, or endorses or warrants any information contained on those sites, unless expressly stated. Furthermore, Four Sigma Trading does not endorse, guarantee or warranty any third party products advertised on its site, in its newsletters, in any third party rental of its permission based lists or otherwise referenced in any information provided by Four Sigma Trading or derived from Four Sigma Trading's website, and Four Sigma Trading expressly disclaims any responsibility and accepts no liability with respect to such information and products. Four Sigma Trading may receive a fee from a service provider that has a link on Four Sigma Trading's website or is referenced in the information provided by Four Sigma Trading. Due to the exclusive nature of our subscription services, your subscription fee is non-refundable.

Our personnel (and affiliates) may own positions in and/or trade the securities mentioned in the information that we provide. However, Four Sigma Trading's policies prohibit all employees of Four Sigma Trading from engaging in any securities transactions that will directly or indirectly compete with the interests of our subscribers that are actually known to Four Sigma Trading. We are not compensated in any way for publishing information about companies mentioned in our on this site or in our emails.

Testimonials may or may not be representative of actual results.

PERFORMANCE FIGURES
Performance figures are based on actual recommendations made by the Four Sigma Trading method. Due to the time critical nature of stock and options trading, brokerage fees, and the activity of other subscribers, Four Sigma Trading cannot guarantee that subscribers will be able to mirror the exact performance stated in our track records or promotions. Performance numbers shown are based on trades subscribers could enter based on our tracking guidelines. Past results are not necessarily indicative of future performance. Therefore, no subscriber or potential subscriber should assume or expect that future performance of any investment or strategy will be profitable or equal historical or anticipated performance levels. The information contained in Four Sigma Trading trading services is intended for use solely by individual subscribers and is not offered to institutional investment organizations.

LIMITATION ON FOUR SIGMA TRADING LIABILITY
To the extent not prohibited by law, each subscriber and potential subscriber agrees, prior to accessing or using Four Sigma Trading's website or receiving information provided by Four Sigma Trading, to release and hold harmless Four Sigma Trading and its directors, officers, shareholders, employees and agents from any and all liability in connection with accessing or using Four Sigma Trading's website or receiving information provided by Four Sigma Trading. In all other cases, Four Sigma Trading's liability to a subscriber, whether in contract, tort, negligence, or otherwise, shall be limited in the aggregate to direct and actual damages of the subscriber, not to exceed the fees received by Four Sigma Trading from the subscriber. Four Sigma Trading will not be liable for any consequential, incidental, punitive, special, exemplary or indirect damages resulting directly or indirectly from the use of or reliance upon any material provided by Four Sigma Trading or derived from Four Sigma Trading's website. Without limitation, Four Sigma Trading shall not be responsible or liable for any loss or damages related to, either directly or indirectly, (1) any decline in market value or loss of any investment; (2) a subscriber's inability to use or any delay in accessing Four Sigma Trading website or any other source of material provided by Four Sigma Trading; (3) any absence of material on Four Sigma Trading website; (4) Four Sigma Trading's failure to deliver or delay in delivering any material or (5) any kind of error in transmission of material. Four Sigma Trading and each subscriber acknowledge that, without limitation, the above-enumerated conditions cannot be the probable result of any breach of any agreement between Four Sigma Trading and the subscriber.

DISCLAIMER OF WARRANTY
ANY AND ALL INFORMATION PROVIDED BY FOUR SIGMA TRADING OR DERIVED FROM FOUR SIGMA TRADING'S WEBSITE IS PROVIDED "AS IS" AND FOUR SIGMA TRADING MAKES NO WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

BROKERS
Four Sigma Trading is not affiliated with any brokerage firm and does not endorse or recommend any specific brokerage firm. Four Sigma Trading is not and will not be responsible for any trades made by a broker on the subscriber's behalf under any circumstances.

ACKNOWLEDGEMENT AND AGREEMENT
Notwithstanding any other agreement or other communications between Four Sigma Trading and Subscriber to the contrary, receipt or use of any material provided by Four Sigma Trading, at any time and through any means, whether directly or indirectly, represents acknowledgement by such person of this disclaimer and agreement with its terms and conditions.

SUBMISSIONS
All submissions from outside contributors on Four Sigma Trading's website are the responsibility of their respective authors, creators, and/or owners. Four Sigma Trading is not responsible for such submissions, and the views and opinions expressed are not necessarily those of Four Sigma Trading. Four Sigma Trading does not guarantee the accuracy or validity of the submissions. While Four Sigma Trading may use its best efforts to review contributor submissions for form and format before they are posted on its website, Four Sigma Trading does not review or edit these submissions for content. Four Sigma Trading makes no representations and provides no warranties whatsoever concerning submissions, and the fact that Four Sigma Trading has posted these outside contributions does not constitute an endorsement, authorization, sponsorship, or affiliation by Four Sigma Trading with respect to the author, creator and/or owner of the submissions. Four Sigma Trading expressly disclaims any responsibility and accepts no liability for any information or content provided in these submissions. Please be advised that submissions may be protected by federal and international copyright or other laws, and your right to reprint, republish, modify, reproduce, or distribute this material may be limited accordingly.

INTELLECTUAL PROPERTY
Except as otherwise indicated, Four Sigma Trading is the copyright owner of all text and graphics contained on this website. Other parties' trademarks and service marks that may be referred to herein are the property of their respective owners. You may print a copy of the information contained herein for your personal use only, but you may not reproduce or distribute the text or graphics to others or substantially copy the information on your own server, or link to this website, without prior written permission of Four Sigma Trading. Permission to use and reproduce documents and related graphics available from this website is granted, provided that: 1. the below copyright notice appears in all copies and that both the copyright and this permission notice appear; 2. use and reproduction of documents and related graphics available from this website is limited to personal, non-commercial use; 3. no documents or related graphics, including logos, available from this website are modified in any way; and 4. no graphics, including logos, available from this website are used separate from accompanying text. Use or reproduction for any other purpose is expressly prohibited by law, and may result in civil and criminal penalties. Violators will be prosecuted to the maximum extent possible.

ACKNOWLEDGEMENT AND AGREEMENT
Notwithstanding any other agreement or other communications between Four Sigma Trading and a subscriber or potential subscriber to the contrary, receiving or using any material provided by Four Sigma Trading or accessing or using Four Sigma Trading's website, at any time and through any means, whether directly or indirectly, represents acknowledgement by such person of the foregoing legal notices and disclaimers and agreement with their terms and conditions.