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
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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
ISHARES TR US HOME CONS ETF ETF 464288752 9,945 381,017 SH   SOLE   381,017 0 0
ISHARES NASDAQ BIOTECHNOLOGY ETF ETF 464287556 2,592 8,544 SH   SOLE   8,544 0 0
POWERSHARES DWA CONSUMER STAPLES ISIN #US73935X3935 SEDOL #B1FYXS2 ETF 73935X393 11,217 208,179 SH   SOLE   208,179 0 0
POWERSHARES EXCHANGE TRADED FD TR II KBW PROPERTY & CASUALTY INS PORT ETF 73936Q777 6,146 134,664 SH   SOLE   134,664 0 0
ISHARES U S HEALTHCARE PROVIDERS ETF ETF 464288828 8,486 68,504 SH   SOLE   68,504 0 0
WISDOMTREE TRUST JAPAN SMALLCAP ISIN #US97717W5215 SEDOL #BBT3Q97 ETF 97717W521 2,970 89,340 SH   SOLE   89,340 0 0
FIRST TR EXCHANGE TRADED FD DOW JONES INTERNET INDEX FD ETF 33733E302 5,560 84,155 SH   SOLE   84,155 0 0
ISHARES TR EUR DEV RE ETF ETF 464288471 292 7,621 SH   SOLE   7,621 0 0
POWERSHARES EXCHANGE TRADED FD TR II S&P SMALLCAP HEALTH CARE PORT ETF 73937B886 10,669 163,933 SH   SOLE   163,933 0 0
ISHARES U.S. MEDICAL DEVICES ETF ETF 464288810 3,461 31,099 SH   SOLE   31,099 0 0
ISHARES GLOBAL HEALTHCARE ETF ETF 464287325 518 5,260 SH   SOLE   5,260 0 0
PROSHARES TRUST SHORT DOW 30 PROSHARES ISIN #US74347R7017 SEDOL #B17MT86 ETF 74347R701 372 15,180 SH   SOLE   15,180 0 0
MARKET VECTORS ETF TRUST RETAIL ETF ETF 57060U225 3,390 46,100 SH   SOLE   46,100 0 0
MARKET VECTORS ETF TRUST BIOTECH ETF ETF 57060U183 285 2,493 SH   SOLE   2,493 0 0