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
ISHARES TR CORE US AGGBD ET 464287226 2,473 22,894 SH   SOLE 22,894 0 0
ISHARES TR NASDQ BIOTEC ETF 464287556 211 625 SH   SOLE 625 0 0
ISHARES TR AGENCY BOND ETF 464288166 3,540 31,282 SH   SOLE 31,282 0 0
ISHARES TR INTRM GOV/CR ETF 464288612 3,353 30,593 SH   SOLE 30,593 0 0
ISHARES TR 1-3 YR CR BD ETF 464288646 252 2,413 SH   SOLE 2,413 0 0
ISHARES TR 10-20 YR TRS ETF 464288653 238 1,776 SH   SOLE 1,776 0 0
ISHARES TR CMBS ETF 46429B366 410 8,101 SH   SOLE 8,101 0 0
ISHARES TR CORE ST USDB ETF 46432F859 3,351 33,757 SH   SOLE 33,757 0 0
NUVEEN MUN OPPORTUNITY FD IN COM 670984103 2,523 176,082 SH   SOLE 176,082 0 0
POWERSHARES GLOBAL ETF TRUST AGG PFD PORT 73936T565 390 26,091 SH   SOLE 26,091 0 0
PROSHARES TR PSHS SHT OIL&GAS 74347R222 9,552 307,823 SH   SOLE 307,823 0 0
PROSHARES TR PSHS SH MSCI EMR 74347R396 13,655 463,504 SH   SOLE 463,504 0 0
PROSHARES TR PSHS SHORT DOW30 74347R701 19,113 845,688 SH   SOLE 845,688 0 0
PROSHARES TR SHRT RUSSELL2000 74348A210 13,028 209,753 SH   SOLE 209,753 0 0
UNITED STS SHORT OIL FD LP UNITS 912613205 11,810 145,033 SH   SOLE 145,033 0 0
WELLS FARGO & CO NEW PERP PFD CNV A 949746804 1,712 1,475 SH   SOLE 1,475 0 0