The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AMERICAN INTL GROUP INC COM NEW 026874784 2,724 49,905 SH   SOLE   49,905 0 0
APACHE CORP COM 037411105 1,404 13,950 SH   SOLE   13,950 0 0
BARRICK GOLD CORP COM 067901108 2,216 121,100 SH   SOLE   121,100 0 0
CHESAPEAKE ENERGY CORP COM 165167107 3,602 115,900 SH   SOLE   115,900 0 0
CHINA AUTOMOTIVE SYS INC COM 16936r105 361 41,557 SH   SOLE   41,557 0 0
CISCO SYS INC COM 17275R102 1,048 42,175 SH   SOLE   42,175 0 0
DEVON ENERGY CORP NEW COM 25179M103 2,299 28,960 SH   SOLE   28,960 0 0
DOW CHEM CO COM 260543103 1,557 30,250 SH   SOLE   30,250 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 3,674 100,667 SH   SOLE   100,667 0 0
INTEL CORP COM 458140100 3,376 109,265 SH   SOLE   109,265 0 0
ISHARES MSCI TAIWAN ETF 464286731 498 31,500 SH   SOLE   31,500 0 0
ISHARES CHINA LG-CAP ETF 464287184 687 18,550 SH   SOLE   18,550 0 0
KIMCO RLTY CORP COM 49446r109 1,268 55,200 SH   SOLE   55,200 0 0
KINDER MORGAN INC DEL COM 49456b101 337 9,280 SH   SOLE   9,280 0 0
KINDER MORGAN INC DEL *W EXP 05/25/201 49456b119 53 19,200 SH   SOLE   19,200 0 0
MARKET VECTORS ETF TR GOLD MINER ETF 57060u100 1,688 63,825 SH   SOLE   63,825 0 0
MARKET VECTORS ETF TR OIL SVCS ETF 57060u191 1,347 23,325 SH   SOLE   23,325 0 0
MARKET VECTORS ETF TR SEMICONDUCTOR 57060u233 3,007 60,750 SH   SOLE   60,750 0 0
MARKET VECTORS ETF TR VIETNAM ETF 57060u761 242 11,650 SH   SOLE   11,650 0 0
MEDTRONIC INC COM 585055106 1,938 30,400 SH   SOLE   30,400 0 0
MICROSOFT CORP COM 594918104 2,819 67,600 SH   SOLE   67,600 0 0
NABORS INDUSTRIES LTD SHS g6359f103 3,939 134,100 SH   SOLE   134,100 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369y605 2,491 109,550 SH   SOLE   109,550 0 0
SUNCOR ENERGY INC NEW COM 867224107 1,343 31,496 SH   SOLE   31,496 0 0
TEMPLETON DRAGON FD INC COM 88018T101 226 8,750 SH   SOLE   8,750 0 0
TRANSCANADA CORP COM 89353d107 525 11,000 SH   SOLE   11,000 0 0
UNITED STATES STL CORP NEW COM 912909108 2,681 102,940 SH   SOLE   102,940 0 0
UNITEDHEALTH GROUP INC COM 91324p102 1,901 23,250 SH   SOLE   23,250 0 0
VALERO ENERGY CORP NEW COM 91913y100 2,797 55,835 SH   SOLE   55,835 0 0
VIMICRO INTL CORP ADR 92718n109 56 20,800 SH   SOLE   20,800 0 0