DISCLAIMER

Phil's Stock World is an educational site where we discuss trade ideas 
and sometimes track the performance of those trade ideas in virtual 
portfolios.  We do our best to track the performance of these trades and 
we encourage our Members to let us know if they ever catch a discrepancy 
but no system is perfect so please do not consider any calculation of an 
individual trade or portfolio to be indicative of actual performance.  
As with quantum mechanics, the act of participating in a trade may 
change the outcome for the observer.  Our authors may discuss trade 
ideas in chat and many Members follow along with paper trading accounts 
and may discuss their own ideas but you should never, ever, ever risk 
trading without a qualified investment adviser who knows your financial 
situation and has expertise in the securities you are planning to invest 
in.  Investments are very risky, we discuss risky strategies that are 
not right for the vast majority of investors and we also discuss 
conservative strategies that also may be totally wrong for you - again, 
we are only her to teach you and we use many examples to do so, 
including tracking virtual live trades but we would NEVER want you to 
execute any of those trades other than in a "paper trading" account with 
virtual money and then, once you learn the strategies - you can find a 
qualified investment adviser to work on similar strategies with. 


Phil's Stock World does not give individualized market advice. We 
publish information regarding companies in which we believe our 
readers may be interested and our reports reflect our sincere opinions. 
However, they are not intended to be personalized recommendations to 
buy, hold,or sell securities. Investments in the securities markets, 
and especially in options, are speculative and involve substantial 
risk. Only you can determine what level of risk is appropriate for you. 
Prior to buying or selling an option, an investor must have a copy of 
Characteristics and Risks of Standardized Options. In addition, you can 
access and download the booklet on The Options Clearing Corporations's 
(OCC) website at www.optionclearing.com/publication/riskstoc.htm.  
This link reference is provided as a courtesy and does not imply that 
the OCC is endorsing Phil's Stock World sites or their 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 how to invest carefully at its web site. 
We encourage you to get personal advice from your professional 
investment advisor and to make independent investigations before acting 
on information that we publish. Most of our information 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. We do not in any way 
warrant or guarantee the success of any action which you take in 
reliance on our statements.  If for any reason we suspend or terminate 
publication of our site, subscribers will receive pro-rated refunds of 
fees paid.

Our personnel may own positions in the equities and/or options mentioned 
in our reports. We are not compensated in any way for publishing 
information about companies mentioned in our reports. Testimonials may 
or may not be representative of actual results.

PERFORMANCE FIGURES

Performance figures are based on actual recommendations made by Phil's 
Stock World sites. Due to the time critical nature of stock and options 
trading, brokerage fees, and the activity of other subscribers, we 
cannot guarantee that subscribers will mirror the exact performance 
stated on 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.

LIMITATION ON LIABILITY

Phil's Stock World sites's liability, whether in contract, tort, 
negligence, or otherwise, shall be limited in the aggregate to direct 
and actual damages not to exceed the fees received by us from 
Subscriber. We will not be liable for consequential, incidental, 
punitive, special, exemplary or indirect damages resulting 
directly or indirectly from the use of or reliance upon any material 
provided by us. Without limitation, we 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 our 
website or any other source of material provided by us; (3) any absence 
of material on our website; (4) our failure to deliver or delay in 
delivering any material or (5) any kind of error in transmission 
of material. We and Subscriber acknowledge that, without limitation, the 
above- enumerated conditions cannot be the probable result of any 
breach of any agreement between us and Subscriber.

DISCLAIMER OF WARRANTY ANY AND ALL MATERIAL PROVIDED BY PHIL'S STOCK 
WORLD IS PROVIDED "AS IS" AND WE MAKE NO WARRANTY 
OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY 
WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A 
PARTICULAR PURPOSE.

BROKERS

We are not affiliated with any brokerage firm and do not endorse or 
recommend any specific brokerage firm. We are not and will not be 
responsible for any trades made by a broker on the subscriber's behalf 
under any circumstances.

ACKNOWLEDGMENT AND AGREEMENT

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

COPYRIGHT NOTICE

Phil's Stock World is the copyright owners of all information contained 
in their services, except as otherwise indicated. 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 information to others or substantially 
copy the information on your own server, or link to our website, 
without prior written permission. Use or reproduction of information 
from this service 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.

Please note: You will have already read our personal statement of terms and conditions; 
but if you are an investment professional, fund manager, or other 
employee in any financial services industry, please pay close attention 
to that document.

Any charges will show up as "Phil Stock World - BDG Information Systems, 
LLC" on your credit card statement.