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
ISHARES LEHMAN 20+ YR TREAS ETF 464287432 6,782 57,740 SH   SOLE   57,740 0 0
ISHARES LEHMAN TRES INF PR S ETF 464287176 1,944 17,350 SH   SOLE   17,350 0 0
PERITUS HIGH YIELD ETF ETF 00768Y503 956 23,535 SH   SOLE   23,535 0 0
POWERSHARES DB AGRICULTURE F ETF 73936B408 1,688 72,295 SH   SOLE   72,295 0 0
POWERSHARES DB ENERGY FUND ETF 73936B101 767 44,480 SH   SOLE   44,480 0 0
POWERSHARES DB US DOL IND BU ETF 73936D107 1,547 61,790 SH   SOLE   61,790 0 0
SPDR GOLD TRUST ETF 78463V107 989 8,805 SH   SOLE   8,805 0 0
SPDR LEHMAN HIGH YIELD BOND ETF 78464A417 958 24,930 SH   SOLE   24,930 0 0
SPDR S&P 500 ETF TRUST COMM 78462F103 16,447 79,900 SH Call SOLE   79,900 0 0
SPDR S&P 500 ETF TRUST COMM 78462F103 89,072 432,700 SH Put SOLE   432,700 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103 102,275 496,840 SH   SOLE   496,840 0 0
UNITED STATES OIL FUND LP ETF 91232N108 759 38,175 SH   SOLE   38,175 0 0
US NATURAL GAS FUND LP ETF 912318201 778 57,380 SH   SOLE   57,380 0 0
WISDOMTREE EUROPE HEDGED EQU ETF 97717X701 3,741 60,735 SH   SOLE   60,735 0 0