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 241 1,858 SH   OTR   0 0 0
CSX CORP COM 126408103 216 5,973 SH   OTR   0 0 0
CVS CAREMARK COM 126650100 616 6,400 SH   OTR   0 0 0
CHEVRON CORP COM 166764100 536 4,784 SH   OTR   0 0 0
CHOICE HOTELS COM 169905106 258 4,621 SH   OTR   0 0 0
COLGATE PALMOLIVE CO COM 194162103 363 5,247 SH   OTR   0 0 0
COMMUNITY BK COM 203607106 285 7,488 SH   OTR   0 0 0
DBX ETF TR XTRAK MSCI BRAZL 233051507 19,827 535,435 SH   SOLE   0 0 0
DISNEY WALT CO COM 254687106 304 3,228 SH   SOLE   0 0 0
EAGLE BANCORP COM 268948106 206 5,815 SH   OTR   0 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107 201 5,587 SH   OTR   0 0 0
FIDELITY MSCI HLTH CARE I 316092600 29,897 908,708 SH   SOLE   0 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 190 12,304 SH   SOLE   0 0 0
FREDERICK COUNTY BANCORP INC COM 355685108 245 11,661 SH   OTR   0 0 0
GENERAL ELECTRIC COM 369604103 604 23,911 SH   OTR   0 0 0
IBM COM 459200101 803 5,005 SH   OTR   0 0 0
INTERSECTIONS INC COM 460981301 106 27,294 SH   OTR   0 0 0
ISHARES INC MSCI EMU 464286608 42,325 1,165,032 SH   SOLE   0 0 0
ISHARES INC MSCI PAC J IDX 464286699 23,657 1,312,107 SH   SOLE   0 0 0
ISHARES TR MSCI EMERG MKT 464287234 499 12,710 SH   SOLE   0 0 0
ISHARES TR IBOXX INV CPBD 464287242 309 2,595 SH   SOLE   0 0 0
ISHARES TR BARCLYS 20+ YR 464287432 38,108 302,638 SH   SOLE   0 0 0
ISHARES TR BARCLYS 7-10 YR 464287440 42,690 402,774 SH   SOLE   0 0 0
ISHARES TR BARCLYS 1-3 YR 464287457 10,506 124,408 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 S&P NA SOFTWR 464287515 1,358 14,637 SH   SOLE   0 0 0
ISHARES TR SOX SEMICND 464287523 38,045 409,579 SH   SOLE   0 0 0
ISHARES TR S&P NA MULTIMD 464287531 1,302 35,058 SH   SOLE   0 0 0
ISHARES TR RUSL 2000 GROW 464287648 651 5,070 SH   SOLE   0 0 0
ISHARES TR RUSSELL 2000 464287655 1,456 12,180 SH   SOLE   0 0 0
ISHARES TR DJ US TECH 464287721 89,382 856,149 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 200 4,708 SH   SOLE   0 0 0
ISHARES TR NTL AMTFREE 464288414 26,418 239,429 SH   SOLE   0 0 0
ISHARES TR BARCLYS 3-7 YR 464288661 3,984 32,576 SH   SOLE   0 0 0
ISHARES TR DJ HOME CONSTN 464288752 20,253 782,605 SH   SOLE   0 0 0
ISHARES TR DJ HEALTH CARE 464288828 33,455 282,638 SH   SOLE   0 0 0
ISHARES TR DJ PHARMA 464288836 2,225 14,697 SH   SOLE   0 0 0
ISHARES 16 AMT-FREE ETF 464289313 2,076 38,960 SH   SOLE   0 0 0
ISHARES 15 AMT-FREE ETF 464289339 618 11,723 SH   SOLE   0 0 0
JOHNSON & JOHNSON COM 478160104 1,192 11,400 SH   OTR   0 0 0
MCCORMICK & CO INC COM 579780107 315 4,256 SH   OTR   0 0 0
PPG INDS INC COM 693506107 283 1,228 SH   OTR   0 0 0
PENNEY J C INC COM 708160106 66 10,200 SH   OTR   0 0 0
PFIZER INC COM 717081103 318 10,224 SH   OTR   0 0 0
PHILLIPS 66 COM 718546104 216 3,024 SH   OTR   0 0 0
PROCTOR & GAMBLE COM 742718108 964 10,593 SH   OTR   0 0 0
SCHLUMBERGER LTD COM 806857108 307 3,600 SH   OTR   0 0 0
SCHWAB CHARLES CORP NEW COM 808513105 173 14,931 SH   OTR   0 0 0
SCHWAB STRATEGIC TR US SML CAP ETF 808524607 297 5,401 SH   SOLE   0 0 0
SCHWAB STRATEGIC TR INTL EQTY ETF 808524805 508 17,602 SH   SOLE   0 0 0
SCHWAB STRAT INTRM TRM TRES 808524854 499 9,317 SH   SOLE   0 0 0
SPECTRA ENERGY CORP COM 847560109 350 9,660 SH   OTR   0 0 0
UBS AG JERSEY BRH DJ COMMD ETN39 902641679 6,650 345,466 SH   SOLE   0 0 0
UNDER ARMOUR INC CL A 904311107 204 3,011 SH   SOLE   0 0 0
VANGUARD WHITEHALL FDS INC HIGH DIV YLD 921946406 215 3,130 SH   SOLE   0 0 0
VEECO INSTRS INC DEL COM 922417100 2,869 82,271 SH   OTR   0 0 0
WAL-MART COM 931142103 298 3,478 SH   OTR   0 0 0
WISDOMTREE TR COM 97717W786 6,656 154,776 SH   OTR   0 0 0
AT&T INC COM 00206R102 517 15,407 SH   OTR   0 0 0
AETNA INC NEW COM 00817Y108 483 5,440 SH   OTR   0 0 0
ALTRIA GROUP INC COM 02209S103 252 5,133 SH   OTR   0 0 0
AMERICAN ELEC PWR INC COM 025537101 467 7,697 SH   OTR   0 0 0
AMERICAN EXPRESS CO COM 025816109 311 3,343 SH   OTR   0 0 0
AMGEN INC COM 031162100 683 4,290 SH   OTR   0 0 0
APPLE INC COM 037833100 1,062 9,623 SH   OTR   0 0 0
BANK OF AMER COM 060505104 209 11,719 SH   OTR   0 0 0
BARCLAYS BK PLC DJUBS CMDT ETN36 06738C778 20,029 669,643 SH   SOLE   0 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 785 5,230 SH   SOLE   0 0 0
CIBER INC COM 17163B102 68 19,434 SH   OTR   0 0 0
CISCO SYS INC COM 17275R102 334 12,038 SH   OTR   0 0 0
CLAYMORE EXCHANGE TRD FD TR GUGG CRP BD 2015 18383M563 6,489 299,446 SH   SOLE   0 0 0
CLAYMORE EXCH SHT DUR 18383M654 67,745 1,357,071 SH   SOLE   0 0 0
COCA COLA CO COM 191216100 1,088 25,783 SH   OTR   0 0 0
CONOCOPHILLIPS COM 20825C104 368 5,342 SH   OTR   0 0 0
CTPARTNERS EXECUTIVE SEARCH COM 22945C105 826 54,400 SH   OTR   0 0 0
DISCOVERY LABORATORIES INC N COM 254668403 21 18,330 SH   OTR   0 0 0
DOMINION RES INC VA NEW COM 25746U109 680 8,853 SH   OTR   0 0 0
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 266 4,102 SH   SOLE   0 0 0
EXELON CORP COM 30161N101 287 7,752 SH   OTR   0 0 0
EXXON MOBIL COM 30231G102 2,197 23,767 SH   OTR   0 0 0
FIRST TR EXCHANGE TRADED FD NY ARCA BIOTECH 33733E203 229 5,010 SH   SOLE   0 0 0
FIRST TR EXCHANGE TRADED FD INDLS PROD DUR 33734X150 750 24,737 SH   SOLE   0 0 0
GOOGLE INC CL A 38259P508 2,225 4,210 SH   SOLE   0 0 0
HOME DEPOT INC COM 437076102 243 2,315 SH   OTR   0 0 0
INTEL CORP COM 458140100 1,114 30,720 SH   OTR   0 0 0
ISHARES MSCI SZ CAP ETF 464286749 22,604 713,291 SH   SOLE   0 0 0
ISHARES INC MSCI SPAIN CAPP 464286764 23,338 673,926 SH   SOLE   0 0 0
ISHARES TR BARCLYS MBS BD 464288588 706 6,460 SH   SOLE   0 0 0
ISHARES TR DJ MED DEVICES 464288810 1,908 16,874 SH   SOLE   0 0 0
KEURIG GREEN MTN INC COM 49271M100 499 3,775 SH   OTR   0 0 0
MERCK & CO INC NEW COM 58933Y105 952 14,638 SH   OTR   0 0 0
METLIFE INC COM 59156R108 548 10,139 SH   OTR   0 0 0
MICROSOFT CORP COM 594918104 1,109 23,880 SH   OTR   0 0 0
NEXTERA ENERGY INC COM 65339F101 332 3,130 SH   OTR   0 0 0
PNC FINL SVCS GROUP INC COM 693475105 375 4,115 SH   OTR   0 0 0
PEPSICO INC COM 713448108 242 2,561 SH   OTR   0 0 0
PIMCO ETF TR 0-5 HIGH YIELD 72201R783 306 3,035 SH   SOLE   0 0 0
PIMCO ETF TR INTER MUN BD ST 72201R866 525 9,785 SH   SOLE   0 0 0
PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 250 4,874 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 176 33,460 SH   SOLE   0 0 0
POWERSHARES DYN SFTWR 73935X773 628 15,725 SH   SOLE   0 0 0
POWERSHARES DYN SEMCT 73935X781 696 27,344 SH   SOLE   0 0 0
POWERSHARES GLOBAL ETF TRUST INSUR NATL MUN 73936T474 691 27,210 SH   SOLE   0 0 0
POWERSHARES ACT MANG COMM FD DB OPT YLD DIV 73937V106 2,008 94,140 SH   SOLE   0 0 0
PRICE T ROWE GROUP INC COM 74144T108 257 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 1,228 8,671 SH   SOLE   0 0 0
RYDEX ETF TRUST GUG S&P500EQWTTE 78355W817 59,744 658,272 SH   SOLE   0 0 0
RYDEX ETF TRUST GUG S&P500 EQ WT 78355W833 782 8,655 SH   SOLE   0 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 5,837 28,401 SH   SOLE   0 0 0
SPDR GOLD TR GOLD SHS 78463V107 1,623 14,292 SH   SOLE   0 0 0
SPDR INDEX SHS FDS EURO STOXX 50 78463X202 10,931 296,565 SH   SOLE   0 0 0
SPDR SERIES TRUST BRC HGH YLD BD 78464A417 204 5,287 SH   SOLE   0 0 0
SPDR SERIES TRST SHT MUNI 78464A425 4,232 174,260 SH   SOLE   0 0 0
SPDR SERIES TRST BRCLY MUNI 78464A458 8,946 370,286 SH   SOLE   0 0 0
SPDR SERIES TRUST S&P TRANSN ETF 78464A532 19,535 180,051 SH   SOLE   0 0 0
SPDR SERIES TRUST BRCLYS INTER ETF 78464A672 613 10,230 SH   SOLE   0 0 0
SPDR SERIES TRST S&P REGL BKG 78464A698 309 7,607 SH   SOLE   0 0 0
SELECT SPDR TR S&P PHARMAC 78464A722 432 4,002 SH   SOLE   0 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 316 6,605 SH   SOLE   0 0 0
SELECT SPDR TR S&P METALS MNG 78464A755 601 19,500 SH   SOLE   0 0 0
SPDR SERIES TRST S&P INS ETF 78464A789 900 13,509 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 36 72,900 SH   OTR   0 0 0
SANDSTORM GOLD LTD COM 80013R206 19 150,000 SH   SOLE   0 0 0
SELECT SPDR TR MATERIALS 81369Y100 271 5,584 SH   SOLE   0 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 2,686 39,289 SH   SOLE   0 0 0
SELECT SPDR TR CONS STPLS 81369Y308 49,004 1,010,602 SH   SOLE   0 0 0
SELECT SPDR TR CONS DISCR 81369Y407 26,603 368,730 SH   SOLE   0 0 0
SELECT SPDR TR INT-ENERGY 81369Y506 26,384 333,308 SH   SOLE   0 0 0
SELECT SPDR TR INT-FINL 81369Y605 131,234 5,306,691 SH   SOLE   0 0 0
SELECT SPDR TR INT-INDS 81369Y704 45,280 800,297 SH   SOLE   0 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 210 5,081 SH   SOLE   0 0 0
SELECT SPDR TR INT-UTILS 81369Y886 1,599 33,867 SH   SOLE   0 0 0
TCW STRATEGIC INCOME FUND IN COM 872340104 143 26,600 SH   OTR   0 0 0
3M CO COM 88579Y101 548 3,340 SH   OTR   0 0 0
UBS AG JERSEY BRH CMCI ETN 38 902641778 12,475 762,588 SH   SOLE   0 0 0
VANGUARD WORLD FDS FINANCIALS ETF 92204A405 349 7,021 SH   SOLE   0 0 0
VANGUARD WORLD FDS HEALTH CAR ETF 92204A504 50,504 402,138 SH   SOLE   0 0 0
VANGUARD WORLD FDS TELCOMM ETF 92204A884 601 7,105 SH   SOLE   0 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 529 11,327 SH   OTR   0 0 0
WISDOMTREE TRUST JAPN HEDGE EQT 97717W851 522 10,621 SH   SOLE   0 0 0
WISDOMTREE TR EUROPE HEDGED EQ 97717X701 455 8,194 SH   SOLE   0 0 0
WORKDAY INC CL A 98138H101 231 2,839 SH   SOLE   0 0 0
YAMANA GOLD INC COM 98462Y100 60 15,000 SH   OTR   0 0 0
ARCH CAP GROUP LTD ORD G0450A105 9,727 164,598 SH   SOLE   0 0 0
VANTAGE DRILLING COMPANY ORD SHS G93205113 12 25,000 SH   SOLE   0 0 0