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
First TR NASDAQ CMNTY BNK ETF 33736q104 5,535 103,760 SH   SOLE   103,760 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369y209 5,239 55,060 SH   SOLE   55,060 0 0
POWERSHARES QQQ TRUST UNIT SER 1 46090e103 2,092 11,260 SH   SOLE   11,260 0 0
INVESCO ETF S&P500 EQL STP 46137v373 6,848 53,360 SH   SOLE   53,360 0 0
RYDEX ETF TR S&P 500 EQ TRD 46137v357 3,307 30,965 SH   SOLE   30,965 0 0
Rydex ETF Tr Gug S&P 500 EQWI E46137v28 508 3,020 SH   SOLE   3,020 0 0
Rydex ETF Tr Gug S&P 500 PU V 46137v258 3,113 45,340 SH   SOLE   45,340 0 0
ISHARES TR MICO-CAP ETF 464288869 5,496 51,700 SH   SOLE   51,700 0 0
ISHARES Tr NASDQ BIO INDX 464287556 244 2,005 SH   SOLE   2,005 0 0
ISHARES TR Russell 3000 ETF 464287689 10,829 62,850 SH   SOLE   62,850 0 0
ISHARES TR S&P SML 600 GWT 464287887 718 3,560 SH   SOLE   3,560 0 0
ISHARES TR DJ MED DEVICES 464288810 7,450 32,750 SH   SOLE   32,750 0 0
ISHARES TR TRANSP AVE IDX 464287192 6,122 29,920 SH   SOLE   29,920 0 0
Select Sec Spdr Tr SBI Materials 81369Y100 517 8,930 SH   SOLE   8,930 0 0
SPDR S&P 500 ETF TR TR UNIT 78462f103 3,641 12,525 SH   SOLE   12,525 0 0
SPDR SERIES TRUST Aerospace Defens 78464a631 10,233 102,795 SH   SOLE   102,795 0 0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 10,230 27,840 SH   SOLE   27,840 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464a730 7,865 181,680 SH   SOLE   181,680 0 0
SPDR SERIES TRUST S&P REGL BKG 78464a698 7,363 123,910 SH   SOLE   123,910 0 0
SPDR Series Tr S&P Biotech 78464A870 5,430 56,640 SH   SOLE   56,640 0 0
MARKET VECTORS ETF GOLD MINE ETF 92189F106 4,861 262,455 SH   SOLE   262,455 0 0
Vanguard Index Funds SM CAP GRW ETF 922908595 1,904 10,165 SH   SOLE   10,165 0 0
INVESCO ETF China Tech 46138e800 1,946 40,500 SH   SOLE   40,500 0 0
I SHARES ETF EMMKT MIN VOL 464286533 279 4,700 SH   SOLE   4,700 0 0
iShares Latin America 464287390 2,301 73,300 SH   SOLE   73,300 0 0
I SHARES TR MSCI AC ASIA 464288182 4,210 59,620 SH   SOLE   59,620 0 0
ISHARES INC MSCI AUSTRALIA 464286103 3,083 139,390 SH   SOLE   139,390 0 0
ISHARES INC MSCI CDA INDEX 464286509 3,939 136,880 SH   SOLE   136,880 0 0
ISHARES INC MSCI CHILE INVES 464286640 2,288 50,520 SH   SOLE   50,520 0 0
ISHARES TR MSCI SMALL CAP 464288273 544 8,740 SH   SOLE   8,740 0 0
ISHARES TR MSCI EURO FL ETF 464289180 1,974 97,330 SH   SOLE   97,330 0 0
ISHARES INC MSCI FRANCE 464286707 1,865 59,420 SH   SOLE   59,420 0 0
ISHARES INC MSCI GERMAN 464286806 1,764 59,330 SH   SOLE   59,330 0 0
ISHARES INC MSCI JAPAN 46434g822 4,492 74,585 SH   SOLE   74,585 0 0
ISHARES ETF MSCI Japan SMC 464286582 542 6,950 SH   SOLE   6,950 0 0
ISHARES TR POLND INVT MKT 46429b606 1,905 79,820 SH   SOLE   79,820 0 0
ISHARES INC MSCI TAIWAN 46434g772 4,271 113,300 SH   SOLE   113,300 0 0
Vanguard Intl Equity Ind FTSE Europe ETF 922042874 389 6,920 SH   SOLE   6,920 0 0
VANGUARD MSCI PACIFIC ETF MSCI PAC ETF 922042866 279 3,930 SH   SOLE   3,930 0 0
WISDOMTREE TR INDIA ERNGS FD 97717w422 1,785 74,040 SH   SOLE   74,040 0 0
Wisdomtree Japan SMCAP Div 97717w836 1,996 25,800 SH   SOLE   25,800 0 0