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
Market Vectors Biotech ETF ETF 57060U183 6,169 115,325 SH   SOLE   115,325 0 0
Market Vectors Gold Miners ETF ETF 57060U100 3,369 72,641 SH   SOLE   72,641 0 0
iShares Dow Jones US Energy ETF 464287796 1,592 39,000 SH   SOLE   39,000 0 0
iShares Dow Jones US Financial ETF 464287788 1,608 26,500 SH   SOLE   26,500 0 0
iShares Dow Jones US Financial ETF 464287770 1,601 27,000 SH   SOLE   27,000 0 0
iShares Dow Jones US Oil & Gas ETF 464288851 1,588 25,000 SH   SOLE   25,000 0 0
iShares Russell Midcap Value I ETF 464287473 5,529 110,054 SH   DFND 1 110,054 0 0
iShares S&P 500 Growth Index ETF 464287309 3,684 48,642 SH   DFND 1 48,642 0 0
iShares S&P MidCap Index ETF 464287507 1,399 13,761 SH   SOLE   13,761 0 0
Apple COM 037833100 51 97 SH   SOLE   97 0 0
Apple COM 037833100 585 1,100 SH Call SOLE   1,100 0 0
Apple COM 037833100 159 300 SH Call SOLE   300 0 0
Merck COM 58933Y105 669 16,350 SH   SOLE   16,350 0 0
Market Vectors ETF Junior Gold ETF 57060U589 5,071 256,274 SH   SOLE   256,274 0 0
iShares Nasdaq Biotechnology ETF 464287556 1,509 11,000 SH   SOLE   11,000 0 0
iShares Nasdaq Biotechnology ETF 464287556 6,631 48,327 SH   DFND 1 48,327 0 0
iShares Russell 2000 Value Ind ETF 464287630 4,937 65,389 SH   SOLE   65,389 0 0
Chesapeake Granite Wash Trust COM 165185109 4,013 242,672 SH   SOLE   242,672 0 0
Gastar Exploration COM 367299203 42 35,318 SH   SOLE   35,318 0 0
Imperial Petrolium Recovery COM 453079105 1 22,000 SH   SOLE   22,000 0 0
Knight Capital Group, Inc. COM 499005106 40 11,550 SH   SOLE   11,550 0 0
WisdomTree Emerging Markets Eq ETF 97717W315 703 12,300 SH   SOLE   12,300 0 0
iShares MSCI ACWI Index ETF 464288257 701 14,600 SH   SOLE   14,600 0 0
iShares MSCI All Country Asia ETF 464288182 708 11,700 SH   SOLE   11,700 0 0
iShares MSCI Italy Index ETF 464286855 2,076 154,390 SH   SOLE   154,390 0 0
iShares MSCI Pacific ex-Japan ETF 464286665 6,649 141,062 SH   DFND 1 141,062 0 0
iShares MSCI Singapore Index ETF 464286673 3,666 267,848 SH   DFND 1 267,848 0 0
iShares MSCI Spain Index ETF 464286764 2,032 67,175 SH   SOLE   67,175 0 0
iShares S&P India Nifty 50 Ind ETF 464289529 2,037 81,810 SH   SOLE   81,810 0 0
iShares S&P Latin America 40 I ETF 464287390 659 15,042 SH   SOLE   15,042 0 0
Market Vectors Agribusiness ET ETF 57060U605 5,666 107,400 SH   SOLE   107,400 0 0
PowerShares DB Commodity Index ETF 73935S105 700 25,200 SH   SOLE   25,200 0 0
SPDR Gold Shares ETF 78463V107 8,890 54,873 SH   SOLE   54,873 0 0
SPDR Gold Shares ETF 78463V107 1,470 9,077 SH   DFND 1 9,077 0 0
iShares COMEX Gold Trust ETF 464285105 6,622 406,811 SH   DFND 1 406,811 0 0
iShares Silver Trust ETF 46428Q109 4,879 166,123 SH   SOLE   166,123 0 0