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
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 558 11,831 SH   SOLE   11,831 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 448 19,784 SH   SOLE   19,784 0 0
FIRST TR EXCHANGE TRADED FD NO AMER ENERGY 33738D101 265 12,125 SH   SOLE   12,125 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 894 13,499 SH   SOLE   13,499 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 398 7,987 SH   SOLE   7,987 0 0
ISHARES TR MBS ETF 464288588 832 7,590 SH   SOLE   7,590 0 0
ISHARES TR IBOXX INV CP ETF 464287242 831 7,155 SH   SOLE   7,155 0 0
ISHARES TR 20+ YR TR BD ETF 464287432 5,749 46,535 SH   SOLE   46,535 0 0
ISHARES TR TIPS BD ETF 464287176 1,831 16,545 SH   SOLE   16,545 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 1,541 47,000 SH Put SOLE   47,000 0 0
ADVISORSHARES TR PERITUS HG YLD 00768Y503 851 23,535 SH   SOLE   23,535 0 0
POWERSHS DB MULTI SECT COMM PS DB AGRICUL FD 73936B408 1,365 65,360 SH   SOLE   65,360 0 0
POWERSHS DB MULTI SECT COMM DB ENERGY FUND 73936B101 180 13,180 SH   SOLE   13,180 0 0
POWERSHS DB US DOLLAR INDEX DOLL INDX BULL 73936D107 1,353 53,890 SH   SOLE   53,890 0 0
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 314 9,177 SH   SOLE   9,177 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 814 7,615 SH   SOLE   7,615 0 0
SPDR SERIES TRUST BRC HGH YLD BD 78464A417 889 24,930 SH   SOLE   24,930 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 61,360 320,200 SH Put SOLE   216,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 85,678 447,100 SH Call SOLE   30,300 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 67,836 353,995 SH   SOLE   353,995 0 0
SPDR SERIES TRUST S&P BK ETF 78464A797 561 16,879 SH   SOLE   16,879 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 556 14,078 SH   SOLE   14,078 0 0
UNITED STATES OIL FUND LP UNITS 91232N108 187 12,740 SH   SOLE   12,740 0 0
UNITED STATES NATL GAS FUND UNIT PAR $0.001 912318201 666 57,380 SH   SOLE   57,380 0 0
WISDOMTREE TR EUROPE HEDGED EQ 97717X701 3,220 58,920 SH   SOLE   58,920 0 0