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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
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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
POWERSHARES EXCHANGE TRADED FD TR DYNAMIC PHARMACEUTICALS PORTFOLIO ETF 73935X799 16,102,522 301,094 SH   SOLE   301,094 0 0
ISHARES NASDAQ BIOTECHNOLOGY ETF ETF 464287556 15,582,915 68,629 SH   SOLE   68,629 0 0
ISHARES U S BROKER DEALERS ETF ETF 464288794 6,511,310 168,512 SH   SOLE   168,512 0 0
ISHARES U S HEALTHCARE ETF ETF 464287762 10,785,879 92,591 SH   SOLE   92,591 0 0
POWERSHARES EXCHANGE TRADED FD TR DYNAMIC MEDIA PORTFOLIO ETF 73935X823 11,561,104 434,138 SH   SOLE   434,138 0 0
MARKET VECTORS ETF TRUST BIOTECH ETF ETF 57060U183 13,976,295 157,889 SH   SOLE   157,889 0 0
WISDOMTREE TR EUROPE SMALLCAP DIVID FD ETF 97717W869 7,264,648 125,556 SH   SOLE   125,556 0 0
GUGGENHEIM SPINOFF ETF ETF 18383M605 9,604,964 213,396 SH   SOLE   213,396 0 0
SPDR SER TR S&P INS ETF ETF 78464A789 13,472,267 213,540 SH   SOLE   213,540 0 0
FIRST TR NASDAQ CLEAN EDGE GREEN ENERGY INDEX FD ETF 33733E500 3,824,478 213,420 SH   SOLE   213,420 0 0
POWERSHARES GOLDEN DRAGON CHINA PORTFOLIO ISIN #US73935X4016 SEDOL #B3LZBR8 ETF 73935X401 6,377,413 210,337 SH   SOLE   210,337 0 0
POWERSHARES EXCHANGE TRADED FD TR II S&P SMALLCAP HEALTH CARE PORT ETF 73937B886 10,987,573 199,339 SH   SOLE   199,339 0 0
CLAYMORE EXCHANGE TRADED FD TR 2 GUGGENHEIM SOLAR ETF ETF 18383Q739 3,533,654 100,445 SH   SOLE   100,445 0 0
POWERSHARES EXCHANGE TRADED FD TR DYNAMIC BIOTECHNOLOGY & GENOME PORTFOLIO ETF 73935X856 3,486,664 94,107 SH   SOLE   94,107 0 0
POWERSHARES NASDAQ INTERNET PORTFOLIO ETF 73935X146 3,527,506 51,519 SH   SOLE   51,519 0 0
VANGUARD SECTOR INDEX FDS VANGUARD HEALTH CARE VIPERS ETF 92204A504 3,190,554 31,558 SH   SOLE   31,558 0 0
GUGGENHM CHINA TEHCNOLOGY ETF ETF 18383Q135 555,987 15,854 SH   SOLE   15,854 0 0
FIRST TR ISE GLOBAL WIND ENERGY INDEX FD COM SHS ETF 33736G106 737,981 65,020 SH   SOLE   65,020 0 0
MARKET VECTORS ETF TRUST GAMING ETF ISIN #US57060U8291 SEDOL #B5KRPG6 ETF 57060U829 3,438,273 64,387 SH   SOLE   64,387 0 0
OPPENHEIMER INTL SMALL COMPANY CL A ETF 68380U100 600,384 18,439 SH   SOLE   18,439 0 0