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
Alerian MLP ETF ETF 00162Q866 7,421 387,100 SH   SOLE   387,100 0 0
Apple Computer Inc. COM 037833100 383 3,800 SH   SOLE   3,800 0 0
Bank of America Corp COM 060505104 366 21,440 SH   SOLE   21,440 0 0
Bank of Hawaii Corp. COM 062540109 28 500 SH   SOLE   500 0 0
Costco Wholesale Corp COM 22160K105 25 200 SH   SOLE   200 0 0
Cummins Inc. COM 231021106 33 250 SH   SOLE   250 0 0
CVS Corp. COM 126650100 20 250 SH   SOLE   250 0 0
Direxion Shares Etf ETF 25459Y207 10 175 SH   SOLE   175 0 0
First Tr Nasdaq 100 Equal Weig ETF 337344105 38,603 963,590 SH   SOLE   963,590 0 0
First Tr NASDAQ Rising Div. ETF 33738R506 74 3,400 SH   SOLE   3,400 0 0
First Tr North Amer Etf ETF 33738D101 842 31,000 SH   SOLE   31,000 0 0
First Trust Consumer Discretio ETF 33734X101 6 191 SH   SOLE   191 0 0
First Trust Large Cap Fund ETF 33734K109 12 281 SH   SOLE   281 0 0
General Electric Co. COM 369604103 102 4,000 SH   SOLE   4,000 0 0
Google Inc Class A COM 062540109 119 202 SH   SOLE   202 0 0
Google Inc Class C COM 38259P706 117 202 SH   SOLE   202 0 0
Gulf Keystone Petroleum Ltd. COM G4209G108 5 5,000 SH   SOLE   5,000 0 0
High Yield Muni Idx ETF ETF 57060U878 1,427 46,400 SH   SOLE   46,400 0 0
Hillenbrand Inc COM 431571108 11 350 SH   SOLE   350 0 0
iShares Cohen & Steers Realty ETF 464287564 1,267 15,000 SH   SOLE   15,000 0 0
iShares Dow Jone Real Estate ETF 464287739 14 200 SH   SOLE   200 0 0
iShares High Yield Corp Bond F ETF 464288513 15,281 166,185 SH   SOLE   166,185 0 0
iShares iBoxx Corporate Bond F ETF 464287242 8,069 68,250 SH   SOLE   68,250 0 0
iShares Russell 2000 Index ETF 464287655 48,292 441,630 SH   SOLE   441,630 0 0
iShares S&P Mid Cap 400 ETF 464287507 51,958 379,980 SH   SOLE   379,980 0 0
iShares S&P Municipal Bond Fun ETF 464288414 1,179 10,750 SH   SOLE   10,750 0 0
iShares S&P Small Cap 600 ETF 464287804 34,586 331,600 SH   SOLE   331,600 0 0
iShares Trust Dow Jones Select ETF 464287168 66 900 SH   SOLE   900 0 0
Johnson & Johnson COM 478160104 54 510 SH   SOLE   510 0 0
JP Morgan Chase & Co. COM 46625H100 32 525 SH   SOLE   525 0 0
Midcap SPDR Trust Series 1 ETF 78467Y107 6 25 SH   SOLE   25 0 0
Onex Corporation COM 68272K103 20 360 SH   SOLE   360 0 0
Pfizer Inc. COM 717081103 33 1,100 SH   SOLE   1,100 0 0
PowerShares High Yield Corpora ETF 73936T557 14,036 736,800 SH   SOLE   736,800 0 0
PowerShares QQQ ETF ETF 73935A104 41,059 415,615 SH   SOLE   415,615 0 0
Proshares SP 500 Aristocrats E ETF 74348A467 70 1,500 SH   SOLE   1,500 0 0
Rydex S&P Equal Weight ETF ETF 78355W106 77,183 1,018,375 SH   SOLE   1,018,375 0 0
Spdr Barclays High Yield ETF ETF 78464A417 10,599 263,800 SH   SOLE   263,800 0 0
SPDR S&P ETF Trust ETF 78462F103 63,805 323,850 SH   SOLE   323,850 0 0
Technology Spdr ETF 81369Y803 28 701 SH   SOLE   701 0 0
Vanguard Mid Cap ETF ETF 922908629 22,614 192,775 SH   SOLE   192,775 0 0
Vanguard S&P 500 Etf New ETF 922908363 15,874 87,900 SH   SOLE   87,900 0 0
Vanguard Small Cap ETF ETF 922908751 8,131 73,500 SH   SOLE   73,500 0 0
Western Refining Inc COM 959319104 31 750 SH   SOLE   750 0 0