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 6,414 387,100 SH   SOLE   387,100 0 0
Apple Computer Inc. COM 037833100 473 3,800 SH   SOLE   3,800 0 0
Bank of America Corp COM 060505104 330 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 30 200 SH   SOLE   200 0 0
Cummins Inc. COM 231021106 35 250 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 36,696 837,810 SH   SOLE   837,810 0 0
First Tr NASDAQ Rising Div. ETF 33738R506 76 3,400 SH   SOLE   3,400 0 0
First Tr North Amer Etf ETF 33738D101 833 31,000 SH   SOLE   31,000 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 99 4,000 SH   SOLE   4,000 0 0
Google Inc Class A COM 062540109 112 202 SH   SOLE   202 0 0
Google Inc Class C COM 38259P706 111 202 SH   SOLE   202 0 0
High Yield Muni Idx ETF ETF 57060U878 1,454 46,400 SH   SOLE   46,400 0 0
iShares Cohen & Steers Realty ETF 464287564 1,517 15,000 SH   SOLE   15,000 0 0
IShares Core S&P Total U.S. St ETF 464287150 2,075 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 15,058 166,185 SH   SOLE   166,185 0 0
iShares iBoxx Corporate Bond F ETF 464287242 8,307 68,250 SH   SOLE   68,250 0 0
iShares Russell 2000 Index ETF 464287655 39,895 320,775 SH   SOLE   320,775 0 0
iShares S&P Mid Cap 400 ETF 464287507 55,449 364,845 SH   SOLE   364,845 0 0
iShares S&P Municipal Bond Fun ETF 464288414 1,189 10,750 SH   SOLE   10,750 0 0
iShares S&P Small Cap 600 ETF 464287804 37,752 319,850 SH   SOLE   319,850 0 0
iShares Trust Dow Jones Select ETF 464287168 70 900 SH   SOLE   900 0 0
Johnson & Johnson COM 478160104 51 510 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 7 25 SH   SOLE   25 0 0
Onex Corporation COM 68272K103 21 360 SH   SOLE   360 0 0
Pfizer Inc. COM 717081103 38 1,100 SH   SOLE   1,100 0 0
PowerShares High Yield Corpora ETF 73936T557 13,977 736,800 SH   SOLE   736,800 0 0
PowerShares QQQ ETF ETF 73935A104 38,842 367,820 SH   SOLE   367,820 0 0
Proshares SP 500 Aristocrats E ETF 74348A467 75 1,500 SH   SOLE   1,500 0 0
Rydex S&P Equal Weight ETF ETF 78355W106 79,505 980,935 SH   SOLE   980,935 0 0
Spdr Barclays High Yield ETF ETF 78464A417 10,346 263,800 SH   SOLE   263,800 0 0
SPDR S&P ETF Trust ETF 78462F103 75,892 367,640 SH   SOLE   367,640 0 0
Technology Spdr ETF 81369Y803 29 701 SH   SOLE   701 0 0
Vanguard Mid Cap ETF ETF 922908629 5,830 43,935 SH   SOLE   43,935 0 0
Vanguard S&P 500 Etf New ETF 922908363 3,874 20,475 SH   SOLE   20,475 0 0
Vanguard Small Cap ETF ETF 922908751 2,087 17,025 SH   SOLE   17,025 0 0
Western Refining Inc COM 959319104 37 750 SH   SOLE   750 0 0