Dated: May 2018

TERMS & CONDITIONS

READ THESE TERMS AND CONDITIONS (“TERMS”) CAREFULLY BEFORE USING THE SERVICES DESCRIBED HEREIN. BY UTILIZING THE WEBSITE LOCATED AT http://www.AsymmetryObservations.com (“WEBSITE”), YOU ACKNOWLEDGE THAT YOU HAVE READ THESE TERMS AND CONDITIONS AND THAT YOU AGREE TO BE BOUND BY THEM. IF YOU DO NOT AGREE TO ALL OF THE TERMS AND CONDITIONS OF THIS AGREEMENT, YOU ARE NOT AN AUTHORIZED USER OF THESE SERVICES AND YOU SHOULD NOT USE THIS WEBSITE.

ASYMMETRY^® OBSERVATIONS RESERVES THE RIGHT TO CHANGE, MODIFY, ADD OR REMOVE PORTIONS OF THESE TERMS AT ANY TIME FOR ANY REASON. WE SUGGEST THAT YOU REVIEW THESE TERMS PERIODICALLY FOR CHANGES. SUCH CHANGES SHALL BE EFFECTIVE IMMEDIATELY UPON POSTING. YOU ACKNOWLEDGE THAT BY ACCESSING OUR WEBSITE AFTER WE HAVE POSTED CHANGES TO THESE TERMS, YOU ARE AGREEING TO THESE TERMS AS MODIFIED.

Disclaimer

Nothing contained on this Website constitutes tax, accounting, regulatory, legal, insurance or investment advice. Neither the information, nor any opinion, contained on this Website constitutes a solicitation or offer by ASYMMETRY® Observations (“ASYMMETRY® Observations”) or its affiliates to buy or sell any securities, futures, options or other financial instruments, nor shall any such security be offered or sold to any person in any jurisdiction in which such offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. Decisions based on information contained on this Website are the sole responsibility of the visitor. In exchange for using this Website, the visitor agrees to indemnify and hold ASYMMETRY® Observations, its officers, directors, employees, affiliates, agents, licensors and suppliers harmless against any and all claims, losses, liability, costs and expenses (including but not limited to attorneys’ fees) arising from your use of this Website, from your violation of these Terms or from any decisions that the visitor makes based on such information.

The investments and strategies discussed in the Website may not be suitable for all investors and are not obligations of ASYMMETRY® Observations or its affiliates or guaranteed by ASYMMETRY® Observations or its affiliates. ASYMMETRY® Observations makes no representations that the contents are appropriate for use in all locations, or that the transactions, securities, products, instruments, or services discussed on this site are available or appropriate for sale or use in all jurisdictions or countries, or by all investors or counterparties. By making available information on the Website, ASYMMETRY® Observations does not represent that any investment vehicle is available or suitable for any particular user. All persons and entities accessing the Web Site do so on their own initiative and are responsible for compliance with applicable local laws and regulations.

The presence of this website on the Internet shall in no direct or indirect way raise an implication that Shell Capital Management, LLC is offering to sell or soliciting to sell advisory services to residents of any state in which the firm is not registered as an investment advisor. For a current list of states in which Shell Capital Management, LLC is registered with please query www.adviserinfo.sec.gov.

All investments involve risk and may lose value. The value of your investment can go down depending upon market conditions. Fixed income investments are subject to risk including interest rate, credit, market and issuer risk. Currency exchange rates may cause the value of an investment to go up or down. Alternative strategies involve higher risks than traditional investments, may not be tax efficient, and have higher fees than traditional investments; they may also be highly leveraged and engage in speculative investment techniques, which can magnify the potential for investment loss or gain. BEFORE ACQUIRING THE SHARES OF ANY INVESTMENT FUND BY PURCHASE OR EXCHANGE, IT IS YOUR RESPONSIBILITY TO READ THE FUND’S PROSPECTUS OR OFFERING MATERIALS.

Any securities reflected are not intended to represent any client holdings or advice. 

This Website is for information purposes only and is not intended to be relied upon as a forecast, research or investment advice. The information on this Website does not constitute a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Although this material is based upon information that ASYMMETRY® Observations considers reliable and endeavors to keep current, ASYMMETRY® Observations does not assure that this material is accurate, current or complete, and it should not be relied upon as such. Any opinions expressed on this Website may change as subsequent conditions vary. Past performance is no guarantee of future results.

The information and services provided on this Website are provided “AS IS” and without warranties of any kind, either expressed or implied. To the fullest extent permissible pursuant to applicable law, ASYMMETRY® Observations disclaims all warranties, including, but not limited to, any warranty of non-infringement of third-party rights and any implied warranties of merchantability and fitness for a particular purpose. ASYMMETRY® Observations does not warrant, either expressly or impliedly, the accuracy or completeness of the information, text, graphics, links or other items contained on this Website and does not warrant that the functions contained in this Website will be uninterrupted or error-free, that defects will be corrected, or that the Website will be free of viruses or other harmful components. ASYMMETRY® Observations expressly disclaims all liability for errors and omissions in the materials on this Website and for the use or interpretation by others of information contained on the Website.

Technical analysis focuses on market action — specifically, volume and price. Technical analysis is one approach to analyzing stocks, commodities, and currencies. When considering which markets or securities to buy or sell, investors should use the approach that you’re most comfortable with. As with all investments, you must make your own determination as to whether an investment in any particular security or securities is right for you based on your investment objectives, risk tolerance, and financial situation. Past performance is no guarantee of future results.

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN; IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK OF ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL WHICH CAN ADVERSELY AFFECT TRADING RESULTS.

LISTED OPTIONS: Options involve risk and are not suitable for all investors. Trading in options is considered speculative and it is possible to lose all, a portion of, or funds in excess of your initial investment. Prior to buying or selling an option, you must receive a copy of Characteristics and Risks of StandardizedOptions (ODD). Copies of the ODD are available at http://www.optionsclearing.com/about/publications/character-risks.jsp

SEC Materials such as Specific Securities like ETFs.

Certain information provided through this Website has been filed with the Securities and Exchange Commission (“SEC”) (such as links to an ETF). The SEC Materials and other public disclosures contained on this Website contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to our future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions. The forward-looking statements and other views expressed herein are as of the date of this publication. Actual future results or occurrences may differ significantly from those anticipated in any forward-looking statements, and there is no guarantee that any predictions will come to pass. The views expressed herein are subject to change at any time, due to numerous market and other factors. ASYMMETRY® Observations and its affiliates disclaim any obligation to update publicly or revise any forward-looking statements or views expressed herein.

Fund and Investment Adviser Disclosures

ASYMMETRY® Observations is published by Shell Capital Management, LLC and authored by Mike Shell. Mike Shell is the President and sole owner of Shell Capital Management, LLC. Shell Capital Management, LLC is a Tennessee Limited Liability Company and is registered as an investment advisor in Tennessee with investment management clients nationally.

Contact us at the link above or at www.shell-capital.com for information about Shell Capital Management, LLC and its investment management services including SEC form ADV disclosures and the ASYMMETRY® Investment Program brochure.

This information is not an offer to sell or a solicitation of an offer to buy shares of any Fund to any person in any jurisdiction in which an offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction.

Information that is provided by ASYMMETRY® Observations is for informational purposes only and should not be considered as investment advice or a recommendation to invest in any particular security, strategy or investment product. Any securities reflected are not intended to represent any client holdings or advice. ASYMMETRY® Observations is not engaged in rendering any tax, legal or accounting advice. Please consult with a qualified professional for this type of advice.

Trademarks, Copyrights and other Intellectual Property

The content contained on this Website is owned or licensed by Shell Capital Management, LLC and its third-party information providers and is protected by applicable copyrights, trademarks, service marks, and/or other intellectual property rights. Such content is solely for your personal, non-commercial use. Accordingly, you may not copy, distribute, modify, post, frame or deep link this Website, including any text, graphics, video, audio, software code, user interface design or logos. You may download material displayed on this Website for your personal use provided you also retain all copyright and other proprietary notices contained on the materials. You may not distribute, modify, transmit, reuse, repost, or use the content of this Website for public or commercial purposes, including all text, images, audio, and video, without ASYMMETRY® Observations written permission. Modification or use of the materials for any other purpose violates Shell Capital Management’s intellectual property rights.

All trademarks, service marks, trade names, and logos displayed on this Website are proprietary to Shell Capital Management, LLC and/or their respective owners. ASYMMETRY® and ASYMMETRY Investment Program® are registered service marks of Shell Capital Management, LLC.

Nothing contained on this Website should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any trademark displayed on this Website without the written permission of

Shell Capital Management, LLC or such other third party that may own the trademark displayed on this Website. Your use of the trademarks displayed on this Website, except as provided herein, is strictly prohibited.

The use of the images displayed on this Website by you, or anyone else authorized by you, is prohibited. Any unauthorized use of the images may violate copyright laws, trademark laws, and the laws of privacy and publicity, and communications, as well as other regulations and statutes. If you download any information from this Website, you agree that you will not copy it or remove or obscure any copyright or other notices or legends contained in any such information.

Links to Other Websites

ASYMMETRY® Observations may establish links between this Website and one or more websites operated by third parties. ASYMMETRY® Observations has no control over any such other websites, the contents therein or the products/services offered. The existence of any such links shall not constitute an endorsement of, or representation or warranty by ASYMMETRY® Observations regarding such websites, the contents of the websites, the products or services of the websites or the operators of the websites. Your access to and use of such linked websites is governed by the terms of use and privacy policies of those sites, and shall be at your own risk. ASYMMETRY® Observations disclaims responsibility for the privacy policies and customer information practices of third-party internet websites hyperlinked from our Website.

Links to ASYMMETRY® Observations from Other Websites

Please give us credit for our work. The information on this website is intended to be shared within these terms and conditions. We encourage you to use hyperlinks to ASYMMETRY ® Observations website. If you use any material on ASYMMETRY® Observations, you may do so if you reference ASYMMETRY® Observations and a link or hyperlink to www.asymmetryobservations.com as the source.

Transmissions to and From this Website

Electronic communications can be intercepted by third parties and, accordingly, transmissions to and from this Website may not be secure. ASYMMETRY® Observations makes no warranty to you regarding the security of the Website, including with regard to the ability of any unauthorized persons to access information received or transmitted by you through or from the Website. ASYMMETRY® Observations reserves the right to cease providing, or to change, this Website and content of such information (or any portion or feature thereof) at any time or frequency and without notice.

Privacy Policy

We do not sell or share your private information.

E-mail Notifications and Marketing

Readers who complete the email notification process to access receive automatic email notifications of new information added to the website are at the same time granting ASYMMETRY® Observations permission to send them e-mail messages for marketing and general communication purposes at the e-mail address they have provided. This service may be discontinued at any time by responding to the email with “Unsubscribe” in the subject line.

Jurisdiction and Governing Law

The information provided on this Website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject ASYMMETRY® Observations or its affiliates to any registration requirement within such jurisdiction or country. Each investment product and service referred to on this Website is intended to be made available to only U.S. residents. This Website will not be considered a solicitation for or offering of any investment product or service to any person in any jurisdiction where such solicitation or offering would be illegal.

The laws of the State of Tennessee govern these Terms without regard to conflict of law provisions. If you take legal action relating to these Terms, you agree to file such action only in the court of Knox County, Tennessee.

Limitation of Liability

SHELL CAPITAL MANAGEMENT, ASYMMETRY® OBSERVATIONS, AND ITS AFFILIATES AND THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES OR AGENTS WILL NOT BE LIABLE TO YOU OR ANYONE ELSE FOR ANY DAMAGES OF ANY KIND, INCLUDING, BUT NOT LIMITED TO, DIRECT, CONSEQUENTIAL, INCIDENTAL, SPECIAL OR INDIRECT DAMAGES (INCLUDING BUT NOT LIMITED TO LOST PROFITS, TRADING LOSSES OR DAMAGES THAT RESULT FROM USE OR LOSS OF USE OF THIS WEBSITE), EVEN IF ASYMMETRY® OBSERVATIONS HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES OR LOSSES, INCLUDING, WITHOUT LIMITATION, FROM THE USE OR ATTEMPTED USE OF THIS WEBSITE OR ANOTHER LINKED WEBSITE.

Timeliness of Content

All content on this Website is presented only as of the date published or indicated and may be superseded by subsequent market events or for other reasons. In addition, you are responsible for setting the cache settings on your browser to ensure you are receiving the most recent data.

Prohibited Uses

Except as otherwise stated in these Terms or as expressly authorized by ASYMMETRY® Observations in writing, you may not:

Use this Website in any manner that could damage or overburden any ASYMMETRY® Observations server, or any network connected to any ASYMMETRY® Observations server, as all servers have limited capacity and are used by many people;

Use this Website in any manner that would interfere with another party’s use of the Website;

Include the term “ASYMMETRY® Observations,” or any ASYMMETRY® Observations trademark or executive’s name, or any variation of the foregoing, as a meta-tag, hidden textual element;

Use any robot, spider, intelligent agent, other automatic device, or manual process to search, monitor or copy this Website or the reports, data, information, content, software, products services, or other materials on, generated by or obtained from this Website, whether through links or otherwise (collectively, “Materials”), without Shell Capital Management’s permission, provided that generally available third-party web browsers may be used without such permission; or

Use this Website or the Materials in any manner that could create impression of affiliation, sponsorship or endorsement by ASYMMETRY® Observations.

Password Security and Notification

Certain parts of the Website are protected by passwords or require a login and are restricted to authorized users only. You may not obtain unauthorized access to such parts of the Website, or to any other protected materials or information, through any means not intentionally made available by ASYMMETRY® Observations for your specific use. If you have a Personal Identification Number (PIN) for access to non-public areas of the Website, you are solely responsible for all activities that occur in connection with your PIN. Accordingly, you should take all reasonable steps to protect the confidentiality of your PIN. Notify ASYMMETRY® Observations immediately if you become aware of any disclosure, loss, theft or unauthorized use of your PIN.

Unauthorized Use of Content

You agree to defend, indemnify and hold harmless ASYMMETRY® Observations, its affiliates and each of their respective officers, directors, members, partners, managers and employees against any losses, damages, claims, liabilities and costs (including reasonable attorneys’ fees) to the extent resulting from or arising out of any unauthorized or otherwise inappropriate use of any of the content of this Website attributable to you or which occurs through the use of your ID.

System Outages and Incomplete Transmissions

Internet software or transmission problems may produce inaccurate or incomplete copies of information and materials that may be downloaded and displayed on a user’s computer. ASYMMETRY® Observations is not liable for any damages, changes, or omissions that occur during transmission of information and materials.

Termination

ASYMMETRY® Observations may terminate your access to the Website for any reason, without prior notice.

Waiver

No waiver by ASYMMETRY® Observations of any right under or term or provision of these Terms will be deemed a waiver of any other right, term, or provision of these Terms at the time of such waiver or a waiver of that or any other right, term, or provision of these Terms at any other time.

Integration and Severability

If any provision of these Terms is deemed unlawful, void, or for any reason unenforceable, then that provision will be deemed severable from these Terms and will not affect the validity and enforceability of the remaining provisions.

The preceding Terms of use represent the entire agreement between ASYMMETRY® Observations and the user relating to the subject matter herein.

To keep social media communities useful for everyone, please keep the following guidelines in mind:

•  Stay relevant: Contribute to the discussion with information that would be of interest to your peers. Do not post advertisements.

• Be respectful: Maintain a friendly environment. Do not post inappropriate or offensive material
• Avoid investment specifics: Do not post personal information; account information; testimonials; investment advice; or recommendations about specific securities, products, or services. Such opinions and experiences may not apply to others and their individual situations.
• Respect your own privacy: Do not send or post personal information or account information via social media. Visit our websites at http://www.shell-capital.com for questions about your accounts and for customer service inquiries.

We reserve the right to remove and moderate comments. We reserve the right to restrict users who don’t follow these guidelines, have online pages containing offensive content or serving as promotional sites, or for any other reason.

Comments and opinions posted by users are the responsibility of the person who posted them. ASYMMETRY® Observations does not adopt, endorse, or guarantee the accuracy of content posted by others, and such content does not represent the views of ASYMMETRY® Observations.

ASYMMETRY® Observations is not responsible for the terms of use or privacy or security policies on other website.

ASYMMETRY® Observations has no responsibility or endorsement for the operations, services, messages, and advertisements that may appear on other websites. Use of these sites is at your own risk

©2017 – 2021 ASYMMETRY® Observations All rights reserved. ASYMMETRY® Global Tactical Rotation® ASYMMETRY Investment Program® ASYMMETRY Capital Partners® are registered trademarks of Shell Capital Management, LLC