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
BOEING CO COM 97023105 236 1,857 SH   OTR   0 0 0
CVS CAREMARK COM 126650100 501 6,300 SH   OTR   0 0 0
CHEVRON CORP COM 166764100 503 4,222 SH   OTR   0 0 0
CHOICE HOTELS COM 169905106 240 4,621 SH   OTR   0 0 0
CHUBB CORP COM 171232101 211 2,325 SH   OTR   0 0 0
COLGATE PALMOLIVE CO COM 194162103 330 5,062 SH   OTR   0 0 0
COMMUNITY BK COM 203607106 251 7,488 SH   OTR   0 0 0
DISNEY WALT CO COM 254687106 310 3,483 SH   SOLE   0 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 207 5,158 SH   OTR   0 0 0
FIDELITY MSCI HLTH CARE I 316092600 375 12,470 SH   SOLE   0 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 235 15,913 SH   SOLE   0 0 0
FREDERICK COUNTY BANCORP INC COM 355685108 228 11,661 SH   OTR   0 0 0
IBM COM 459200101 703 3,706 SH   OTR   0 0 0
INTERSECTIONS INC COM 460981301 108 28,294 SH   OTR   0 0 0
ISHARES INC MSCI EMU 464286608 71,090 1,846,518 SH   SOLE   0 0 0
ISHARES INC MSCI PAC J IDX 464286699 24,649 1,271,906 SH   SOLE   0 0 0
ISHARES TR MSCI EMERG MKT 464287234 525 12,639 SH   SOLE   0 0 0
ISHARES TR IBOXX INV CPBD 464287242 324 2,745 SH   SOLE   0 0 0
ISHARES TR BARCLYS 1-3 YR 464287457 10,715 126,800 SH   SOLE   0 0 0
ISHARES TR MSCI EAFE INDEX 464287465 237 3,505 SH   SOLE   0 0 0
ISHARES TR CORE S&P MCP ETF 464287507 215 1,770 SH   SOLE   0 0 0
ISHARES TR RUSL 2000 GROW 464287648 651 5,070 SH   SOLE   0 0 0
ISHARES TR RUSSELL 2000 464287655 1,306 11,950 SH   SOLE   0 0 0
ISHARES TR CONS GOODS IDX 464287812 458 7,460 SH   SOLE   0 0 0
ISHARES TR S&P EURO PLUS 464287861 422 9,362 SH   SOLE   0 0 0
ISHARES TR NTL AMTFREE 464288414 25,149 229,317 SH   SOLE   0 0 0
ISHARES TR BARCLYS 3-7 YR 464288661 4,029 33,217 SH   SOLE   0 0 0
ISHARES TR DJ HEALTH CARE 464288828 30,391 284,400 SH   SOLE   0 0 0
ISHARES TR DJ PHARMA 464288836 2,096 14,937 SH   SOLE   0 0 0
JOHNSON & JOHNSON COM 478160104 1,253 11,762 SH   OTR   0 0 0
MCCORMICK & CO INC COM 579780107 285 4,256 SH   OTR   0 0 0
PPG INDS INC COM 693506107 241 1,228 SH   OTR   0 0 0
PFIZER INC COM 717081103 335 11,332 SH   OTR   0 0 0
PHILIP MORRIS INTL INC COM 718172109 200 2,404 SH   OTR   0 0 0
PHILLIPS 66 COM 718546104 312 3,849 SH   OTR   0 0 0
PROCTOR & GAMBLE COM 742718108 886 10,585 SH   OTR   0 0 0
SCHLUMBERGER LTD COM 806857108 329 3,245 SH   OTR   0 0 0
SCHWAB STRATEGIC TR US SML CAP ETF 808524607 265 5,162 SH   SOLE   0 0 0
SCHWAB STRATEGIC TR US AGGREGATE B 808524839 207 4,015 SH   SOLE   0 0 0
SCHWAB STRAT INTRM TRM TRES 808524854 547 10,347 SH   SOLE   0 0 0
SPECTRA ENERGY CORP COM 847560109 513 13,085 SH   OTR   0 0 0
VANGUARD WHITEHALL FDS INC HIGH DIV YLD 921946406 207 3,130 SH   SOLE   0 0 0
WAL-MART COM 931142103 201 2,628 SH   OTR   0 0 0
WISDOMTREE TR COM 97717W786 27,078 578,605 SH   OTR   0 0 0
AT&T INC COM 00206R102 466 13,238 SH   OTR   0 0 0
AETNA INC NEW COM 00817Y108 456 5,636 SH   OTR   0 0 0
ALTRIA GROUP INC COM 02209S103 244 5,331 SH   OTR   0 0 0
AMERICAN ELEC PWR INC COM 025537101 401 7,697 SH   OTR   0 0 0
AMERICAN EXPRESS CO COM 025816109 297 3,397 SH   OTR   0 0 0
AMGEN INC COM 031162100 555 3,955 SH   OTR   0 0 0
APPLE INC COM 037833100 827 8,214 SH   OTR   0 0 0
BP PLC SPONSORED ADR 055622104 228 5,189 SH   SOLE   0 0 0
BANK OF AMER COM 060505104 233 13,717 SH   OTR   0 0 0
BARCLAYS BK PLC DJUBS CMDT ETN36 06738C778 24,858 723,250 SH   SOLE   0 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 791 5,730 SH   SOLE   0 0 0
CLAYMORE EXCHANGE TRD FD TR GUGG CRP BD 2015 18383M563 6,514 299,643 SH   SOLE   0 0 0
CLAYMORE EXCHANGE TRD FD TR GUGG SHIPPNG ETF 18383Q796 4,826 234,061 SH   SOLE   0 0 0
COCA COLA CO COM 191216100 1,100 25,794 SH   OTR   0 0 0
CONOCOPHILLIPS COM 20825C104 376 4,917 SH   OTR   0 0 0
CTPARTNERS EXECUTIVE SEARCH COM 22945C105 848 54,400 SH   OTR   0 0 0
DISCOVERY LABORATORIES INC N COM 254668403 29 15,786 SH   OTR   0 0 0
DOMINION RES INC VA NEW COM 25746U109 610 8,829 SH   OTR   0 0 0
E M C CORP MASS COM 268648102 202 6,933 SH   OTR   0 0 0
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 233 3,644 SH   SOLE   0 0 0
EXELON CORP COM 30161N101 323 9,487 SH   OTR   0 0 0
EXXON MOBIL COM 30231G102 2,282 24,264 SH   OTR   0 0 0
FACEBOOK INC CL A 30303M102 200 2,533 SH   SOLE   0 0 0
FIRST TR EXCHANGE TRADED FD NY ARCA BIOTECH 33733E203 229 5,010 SH   SOLE   0 0 0
GOOGLE INC CL A 38259P508 1,353 2,345 SH   SOLE   0 0 0
GOOGLE INC CL A 38259P508 1,379 2,345 SH   SOLE   0 0 0
HOME DEPOT INC COM 437076102 203 2,215 SH   OTR   0 0 0
ISHARES MSCI SZ CAP ETF 464286749 23,195 713,488 SH   SOLE   0 0 0
ISHARES INC MSCI SPAIN CAPP 464286764 397 10,211 SH   SOLE   0 0 0
ISHARES TR BARCLYS MBS BD 464288588 576 5,334 SH   SOLE   0 0 0
ISHARES TR DJ MED DEVICES 464288810 27,048 272,118 SH   SOLE   0 0 0
KEURIG GREEN MTN INC COM 49271M100 491 3,775 SH   OTR   0 0 0
MERCK & CO INC NEW COM 58933Y105 919 14,630 SH   OTR   0 0 0
METLIFE INC COM 59156R108 544 10,139 SH   OTR   0 0 0
MICROSOFT CORP COM 594918104 1,241 26,778 SH   OTR   0 0 0
NEXTERA ENERGY INC COM 65339F101 306 3,265 SH   OTR   0 0 0
PNC FINL SVCS GROUP INC COM 693475105 352 4,115 SH   OTR   0 0 0
PEPSICO INC COM 713448108 502 5,393 SH   OTR   0 0 0
PIMCO ETF TR 0-5 HIGH YIELD 72201R783 278 2,684 SH   SOLE   0 0 0
PIMCO ETF TR ENHAN SHRT MAT 72201R833 344 3,398 SH   SOLE   0 0 0
PIMCO ETF TR INTER MUN BD ST 72201R866 522 9,785 SH   SOLE   0 0 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 286 4,859 SH   SOLE   0 0 0
POWERSHARES ETF TRUST DYNAMIC MKT PT 73935X104 267 5,810 SH   SOLE   0 0 0
POWERSHARES ETF TRUST WNDRHLL CLN EN 73935X500 211 33,460 SH   SOLE   0 0 0
POWERSHARES DYN SFTWR 73935X773 557 15,725 SH   SOLE   0 0 0
POWERSHARES DYN SEMCT 73935X781 638 27,750 SH   SOLE   0 0 0
POWERSHARES GLOBAL ETF TRUST INSUR NATL MUN 73936T474 674 26,835 SH   SOLE   0 0 0
PRICE T ROWE GROUP INC COM 74144T108 235 3,000 SH   OTR   0 0 0
ROCK-TENN CO CL A 772739207 169 12,627 SH   SOLE   0 0 0
RYDEX ETF TRUST GUG S&P500 EQ WT 78355W106 397 9,114 SH   SOLE   0 0 0
RYDEX ETF TRUST GUG RUSS TOP 50 78355W205 1,197 8,671 SH   SOLE   0 0 0
RYDEX ETF TRUST GUG S&P500EQWTTE 78355W817 55,747 655,623 SH   SOLE   0 0 0
RYDEX ETF TRUST GUG S&P500 EQ WT 78355W833 737 8,655 SH   SOLE   0 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 5,912 30,010 SH   SOLE   0 0 0
SPDR GOLD TR GOLD SHS 78463V107 1,660 14,292 SH   SOLE   0 0 0
SPDR SERIES TRUST BRC HGH YLD BD 78464A417 218 5,435 SH   SOLE   0 0 0
SPDR SERIES TRST SHT MUNI 78464A425 5,216 213,739 SH   SOLE   0 0 0
SPDR SERIES TRST BRCLY MUNI 78464A458 8,979 374,127 SH   SOLE   0 0 0
SPDR SERIES TRUST HLTH CR EQUIP 78464A581 1,412 18,869 SH   SOLE   0 0 0
SPDR SERIES TRST S&P REGL BKG 78464A698 267 7,071 SH   SOLE   0 0 0
SELECT SPDR TR S&P PHARMAC 78464A722 423 3,997 SH   SOLE   0 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 454 6,605 SH   SOLE   0 0 0
SELECT SPDR TR S&P METALS MNG 78464A755 717 19,500 SH   SOLE   0 0 0
SPDR SERIES TRST S&P INS ETF 78464A789 859 13,644 SH   SOLE   0 0 0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 1,639 8,157 SH   SOLE   0 0 0
SANDSTORM GOLD LTD COM 80013R131 60 72,900 SH   OTR   0 0 0
SANDSTORM GOLD LTD COM 80013R206 30 150,000 SH   SOLE   0 0 0
SELECT SPDR TR MATERIALS 81369Y100 320 6,460 SH   SOLE   0 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 2,358 36,910 SH   SOLE   0 0 0
SELECT SPDR TR CONS STPLS 81369Y308 45,420 1,006,878 SH   SOLE   0 0 0
SELECT SPDR TR CONS DISCR 81369Y407 43,627 654,179 SH   SOLE   0 0 0
SELECT SPDR TR INT-ENERGY 81369Y506 37,605 414,976 SH   SOLE   0 0 0
SELECT SPDR TR INT-FINL 81369Y605 123,564 5,332,971 SH   SOLE   0 0 0
SELECT SPDR TR INT-INDS 81369Y704 40,190 756,172 SH   SOLE   0 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 288 7,218 SH   SOLE   0 0 0
SELECT SPDR TR INT-UTILS 81369Y886 1,385 32,928 SH   SOLE   0 0 0
STAPLES INC COM 855030102 128 10,600 SH   OTR   0 0 0
TCW STRATEGIC INCOME FUND IN COM 872340104 61 11,000 SH   OTR   0 0 0
3M CO COM 88579Y101 473 3,340 SH   OTR   0 0 0
UBS AG JERSEY BRH CMCI ETN 38 902641778 23,094 1,220,010 SH   SOLE   0 0 0
VANGUARD WORLD FDS FINANCIALS ETF 92204A405 273 5,900 SH   SOLE   0 0 0
VANGUARD WORLD FDS HEALTH CAR ETF 92204A504 45,580 389,606 SH   SOLE   0 0 0
VANGUARD WORLD FDS TELCOMM ETF 92204A884 618 7,083 SH   SOLE   0 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 617 12,346 SH   OTR   0 0 0
WISDOMTREE TRUST JAPN HEDGE EQT 97717W851 549 10,500 SH   SOLE   0 0 0
WISDOMTREE TR EUROPE HEDGED EQ 97717X701 473 8,194 SH   SOLE   0 0 0
YAMANA GOLD INC COM 98462Y100 90 15,000 SH   OTR   0 0 0
ARCH CAP GROUP LTD ORD G0450A105 9,006 164,598 SH   SOLE   0 0 0
VANTAGE DRILLING COMPANY ORD SHS G93205113 31 25,000 SH   SOLE   0 0 0