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 6,012 386,350 SH   SOLE   386,350 0 0
Apple Computer Inc. COM 037833100 477 3,800 SH   SOLE   3,800 0 0
Bank of America Corp COM 060505104 365 21,440 SH   SOLE   21,440 0 0
Bank of Hawaii Corp. COM 062540109 33 500 SH   SOLE   500 0 0
Costco Wholesale Corp COM 22160K105 27 200 SH   SOLE   200 0 0
Cummins Inc. COM 231021106 33 250 SH   SOLE   250 0 0
CVS Corp. COM 126650100 26 250 SH   SOLE   250 0 0
Direxion Shares Etf ETF 25459Y207 7 100 SH   SOLE   100 0 0
First Tr Nasdaq 100 Equal Weig ETF 337344105 36,790 841,685 SH   SOLE   841,685 0 0
First Tr NASDAQ Rising Div. ETF 33738R506 75 3,400 SH   SOLE   3,400 0 0
First Tr North Amer Etf ETF 33738D101 964 38,000 SH   SOLE   38,000 0 0
First Trust Consumer Discretio ETF 33734X101 7 191 SH   SOLE   191 0 0
First Trust Large Cap Fund ETF 33734K109 13 281 SH   SOLE   281 0 0
General Electric Co. COM 369604103 106 4,000 SH   SOLE   4,000 0 0
Google Inc Class A COM 062540109 109 202 SH   SOLE   202 0 0
Google Inc Class C COM 38259P706 105 202 SH   SOLE   202 0 0
High Yield Muni Idx ETF ETF 57060U878 1,387 46,400 SH   SOLE   46,400 0 0
iShares Cohen & Steers Realty ETF 464287564 1,344 15,000 SH   SOLE   15,000 0 0
IShares Core S&P Total U.S. St ETF 464287150 2,068 21,900 SH   SOLE   21,900 0 0
iShares Dow Jone Real Estate ETF 464287739 7 100 SH   SOLE   100 0 0
iShares High Yield Corp Bond F ETF 464288513 14,757 166,185 SH   SOLE   166,185 0 0
iShares iBoxx Corporate Bond F ETF 464287242 7,898 68,250 SH   SOLE   68,250 0 0
iShares Russell 2000 Index ETF 464287655 40,352 323,175 SH   SOLE   323,175 0 0
iShares S&P Mid Cap 400 ETF 464287507 54,901 366,055 SH   SOLE   366,055 0 0
iShares S&P Municipal Bond Fun ETF 464288414 1,163 10,750 SH   SOLE   10,750 0 0
iShares S&P Small Cap 600 ETF 464287804 37,923 321,710 SH   SOLE   321,710 0 0
iShares S&P US Preferred Stock ETF 464288687 235 6,000 SH   SOLE   6,000 0 0
iShares Trust Dow Jones Select ETF 464287168 68 900 SH   SOLE   900 0 0
Johnson & Johnson COM 478160104 50 510 SH   SOLE   510 0 0
JP Morgan Chase & Co. COM 46625H100 36 525 SH   SOLE   525 0 0
Midcap SPDR Trust Series 1 ETF 78467Y107 7 25 SH   SOLE   25 0 0
Onex Corporation COM 68272K103 20 360 SH   SOLE   360 0 0
Pfizer Inc. COM 717081103 37 1,100 SH   SOLE   1,100 0 0
PowerShares High Yield Corpora ETF 73936T557 13,749 736,800 SH   SOLE   736,800 0 0
PowerShares QQQ ETF ETF 73935A104 39,508 368,995 SH   SOLE   368,995 0 0
Proshares SP 500 Aristocrats E ETF 74348A467 74 1,500 SH   SOLE   1,500 0 0
Rydex S&P Equal Weight ETF ETF 78355W106 78,055 978,135 SH   SOLE   978,135 0 0
Spdr Barclays High Yield ETF ETF 78464A417 10,138 263,800 SH   SOLE   263,800 0 0
SPDR S&P ETF Trust ETF 78462F103 75,629 367,400 SH   SOLE   367,400 0 0
Technology Spdr ETF 81369Y803 29 701 SH   SOLE   701 0 0
Vanguard Mid Cap ETF ETF 922908629 5,599 43,935 SH   SOLE   43,935 0 0
Vanguard S&P 500 Etf New ETF 922908363 3,866 20,475 SH   SOLE   20,475 0 0
Vanguard Small Cap ETF ETF 922908751 2,068 17,025 SH   SOLE   17,025 0 0
Western Refining Inc COM 959319104 33 750 SH   SOLE   750 0 0