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
Apple Computer, Inc. COM 37833100 5,568 59,917 SH   OTR   0 0 59,917
Banco Santander COM 05964H105 1,705 163,707 SH   OTR   0 0 163,707
Bank of America COM 60505104 2,689 175,000 SH   OTR   0 0 175,000
Berkshire Hathaway Inc. C COM 84670702 268 2,125 SH   OTR 1 0 0 2,125
Chevron Texaco Corporatio COM 166764100 338 2,595 SH   OTR   0 0 2,595
Coca Cola Co. COM 191216100 1,770 41,790 SH   OTR   0 0 41,790
DB Commodity Index ETF 73935S105 914 34,400 SH   SOLE   0 0 34,400
Dow Diamonds ETF 78467X109 7,320 43,601 SH   SOLE   0 0 43,601
Exxon Mobil Corp. COM 30231G102 414 4,115 SH   OTR   0 0 4,115
Financial Select Sector ETF 81369Y605 4,463 196,300 SH   SOLE   0 0 196,300
General Electric Co. COM 369604103 4,600 175,058 SH   OTR   0 0 175,058
Hertz Global Holdings COM 42805T105 1,401 50,000 SH   OTR   0 0 50,000
Implant Sciences COM 45320R108 10 10,000 SH   OTR   0 0 10,000
iShares MSCI Emerging Mar ETF 464287234 10,110 233,871 SH   SOLE   0 0 233,871
iShares US Preferred Stoc ETF 464288687 4,369 109,485 SH   SOLE   0 0 109,485
J.P. Morgan Chase COM 46625H100 3,745 65,004 SH   OTR   0 0 65,004
Market Vectors Gold Miner ETF 57060U100 714 27,000 SH   SOLE   0 0 27,000
Microsoft Corp COM 594918104 5,644 135,369 SH   OTR   0 0 135,369
MSCI EAFE Index ETF 464287465 4,596 67,225 SH   SOLE   0 0 67,225
Nestle SA ADR ADR 641069406 247 3,200 SH   OTR 1 0 0 3,200
Oil Service Holders Trust ETF 57060U191 866 15,000 SH   SOLE   0 0 15,000
Pfizer Inc COM 717081103 1,488 50,166 SH   OTR   0 0 50,166
PowerShares DB Agricultur ETF 73936B408 1,373 50,000 SH   SOLE   0 0 50,000
Royal Dutch Shell PLC ADR 780259206 480 5,830 SH   OTR   0 0 5,830
S&P 500 Spiders ETF 78462F103 4,569 23,348 SH   SOLE   0 0 23,348
Short S&P 500 ProShares ETF SHORT 74347R503 2,721 116,501 SH   SOLE   0 0 116,501
Spdr Euro Stoxx 50 ETF 78463X202 3,894 90,000 SH   SOLE   0 0 90,000
Streettracks Gold Shares ETF 78463V107 3,308 25,836 SH   SOLE   0 0 25,836
Susquehanna Bancshares Re COM 86909910R 506 47,946 SH   OTR   0 0 47,946
UltraShort Euro ProShares ETF SHORT 74347W882 1,534 90,000 SH   SOLE   0 0 90,000
Unilever NV-NY shares ADR 904784709 126 2,875 SH   OTR 1 0 0 2,875
Unilever NV-NY shares ADR 904784709 156 3,574 SH   OTR   0 0 3,574
Vanguard Dividend Appreci ETF 921908844 3,351 42,987 SH   SOLE   0 0 42,987
Vanguard European Stock ETF 922042874 6,232 103,954 SH   SOLE   0 0 103,954
Vanguard FTSE All World ETF 922042775 986 18,850 SH   SOLE   0 0 18,850
Vanguard Growth Vipers ETF 922908736 1,708 17,269 SH   SOLE   0 0 17,269
Vanguard Mid Cap ETF 922908629 2,480 20,900 SH   SOLE   0 0 20,900
Vanguard Value ETF 922908744 7,218 89,170 SH   SOLE   0 0 89,170
Wells Fargo & Co. COM 949746101 313 5,966 SH   OTR   0 0 5,966
Wisdomtree Europe Hedged ETF 97717X701 1,752 30,000 SH   SOLE   0 0 30,000