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 4,653 386,100 SH   SOLE   386,100 0 0
Apple Computer Inc. COM 037833100 400 3,800 SH   SOLE   3,800 0 0
Bank of America Corp COM 060505104 361 21,440 SH   SOLE   21,440 0 0
Bank of Hawaii Corp. COM 062540109 31 500 SH   SOLE   500 0 0
Costco Wholesale Corp COM 22160K105 32 200 SH   SOLE   200 0 0
Cummins Inc. COM 231021106 22 250 SH   SOLE   250 0 0
CVS Corp. COM 126650100 24 250 SH   SOLE   250 0 0
Direxion Shares Etf ETF 25459Y207 6 100 SH   SOLE   100 0 0
First Tr Nasdaq 100 Equal Weig ETF 337344105 35,829 824,025 SH   SOLE   824,025 0 0
First Tr NASDAQ Rising Div. ETF 33738R506 70 3,400 SH   SOLE   3,400 0 0
First Tr North Amer Etf ETF 33738D101 767 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 12 281 SH   SOLE   281 0 0
General Electric Co. COM 369604103 125 4,000 SH   SOLE   4,000 0 0
Google Inc Class A COM 062540109 157 202 SH   SOLE   202 0 0
Google Inc Class C COM 38259P706 153 202 SH   SOLE   202 0 0
High Yield Muni Idx ETF ETF 57060U878 1,433 46,400 SH   SOLE   46,400 0 0
iShares Cohen & Steers Realty ETF 464287564 1,489 15,000 SH   SOLE   15,000 0 0
IShares Core S&P Total U.S. St ETF 464287150 2,034 21,900 SH   SOLE   21,900 0 0
iShares Dow Jone Real Estate ETF 464287739 8 100 SH   SOLE   100 0 0
iShares High Yield Corp Bond F ETF 464288513 13,383 166,085 SH   SOLE   166,085 0 0
iShares iBoxx Corporate Bond F ETF 464287242 7,781 68,250 SH   SOLE   68,250 0 0
iShares Russell 2000 Index ETF 464287655 35,332 313,725 SH   SOLE   313,725 0 0
iShares S&P Mid Cap 400 ETF 464287507 49,721 356,880 SH   SOLE   356,880 0 0
iShares S&P Municipal Bond Fun ETF 464288414 1,190 10,750 SH   SOLE   10,750 0 0
iShares S&P Small Cap 600 ETF 464287804 34,189 310,500 SH   SOLE   310,500 0 0
iShares S&P US Preferred Stock ETF 464288687 233 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 52 510 SH   SOLE   510 0 0
JP Morgan Chase & Co. COM 46625H100 35 525 SH   SOLE   525 0 0
JP Morgan Chase Alerian ETF 46625H365 334 11,540 SH   SOLE   11,540 0 0
Midcap SPDR Trust Series 1 ETF 78467Y107 6 25 SH   SOLE   25 0 0
Onex Corporation COM 68272K103 22 360 SH   SOLE   360 0 0
Pfizer Inc. COM 717081103 36 1,100 SH   SOLE   1,100 0 0
PowerShares High Yield Corpora ETF 73936T557 12,841 736,300 SH   SOLE   736,300 0 0
PowerShares QQQ ETF ETF 73935A104 40,336 360,595 SH   SOLE   360,595 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 73,230 955,510 SH   SOLE   955,510 0 0
Spdr Barclays High Yield ETF ETF 78464A417 8,940 263,650 SH   SOLE   263,650 0 0
SPDR S&P ETF Trust ETF 78462F103 73,070 358,415 SH   SOLE   358,415 0 0
Technology Spdr ETF 81369Y803 30 701 SH   SOLE   701 0 0
Vanguard Mid Cap ETF ETF 922908629 5,277 43,935 SH   SOLE   43,935 0 0
Vanguard S&P 500 Etf New ETF 922908363 3,827 20,475 SH   SOLE   20,475 0 0
Vanguard Small Cap ETF ETF 922908751 1,884 17,025 SH   SOLE   17,025 0 0
Western Refining Inc COM 959319104 27 750 SH   SOLE   750 0 0