Murphy Capital Management 13F-HR Quarterly holdings report by institutional manager

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
Expires:	Oct 31, 2018
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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
BAIDU.COM ADS	ADR	056752108	378	1,655	SH		SOLE		0	0	1,655
BASF SE SPONSORED ADR	ADR	055262505	243	10,950	SH		SOLE		0	0	10,950
BP PLC ADR	ADR	055622104	526	11,420	SH		SOLE		0	0	11,420
DIAGEO ADR	ADR	25243Q205	643	4,540	SH		SOLE		0	0	4,540
ENSCO PLC SHS CLASS A	ADR	G3157S106	181	21,450	SH		SOLE		0	0	21,450
GLAXOSMITHKLINE ADR	ADR	37733W105	227	5,675	SH		SOLE		0	0	5,675
JPMORGAN CHASE & CO ALERIAN ML	ADR	46625H365	1,130	41,175	SH		SOLE		0	0	41,175
NESTLE S A SPONSORED ADR	ADR	641069406	5,348	64,282	SH		SOLE		0	0	64,282
NOVARTIS AG ADR	ADR	66987V109	809	9,393	SH		SOLE		0	0	9,393
PHILIPS ELECTRONICS (KONINKLIJ	ADR	500472303	541	11,900	SH		SOLE		0	0	11,900
ROYAL DUTCH CL A ADR NEW	ADR	780259206	980	14,384	SH		SOLE		0	0	14,384
SHIRE PLC SPONSORED ADR	ADR	82481R106	511	2,820	SH		SOLE		0	0	2,820
SIEMENS A G SPONSORED ADR	ADR	826197501	1,477	23,142	SH		SOLE		0	0	23,142
UNILEVER PLC ADR	ADR	904767704	1,333	24,263	SH		SOLE		0	0	24,263
VODAFONE GROUP PLC ADR	ADR	92857W308	207	9,565	SH		SOLE		0	0	9,565
ABBOTT LABORATORIES	COM	002824100	1,812	24,712	SH		SOLE		0	0	24,712
ABBVIE INC. COM	COM	00287Y109	762	8,066	SH		SOLE		0	0	8,066
AETNA	COM	00817Y108	816	4,025	SH		SOLE		0	0	4,025
AFLAC	COM	001055102	1,808	38,420	SH		SOLE		0	0	38,420
AGNC INVT CORP COM	COM	00123Q104	186	10,000	SH		SOLE		0	0	10,000
AIR PRODUCTS & CHEMICALS	COM	009158106	1,865	11,165	SH		SOLE		0	0	11,165
AIRTRONA INTL INC COM	COM	00950T106	0	70,000	SH		SOLE		0	0	70,000
ALLEGION PUB LTD CO ORD SHS	COM	G0176J109	897	9,910	SH		SOLE		0	0	9,910
ALLERGAN PLC SHS	COM	G0177J108	633	3,324	SH		SOLE		0	0	3,324
ALLISON TRANSMISSION H COM	COM	01973R101	241	4,650	SH		SOLE		0	0	4,650
ALLSTATE CORP	COM	020002101	283	2,875	SH		SOLE		0	0	2,875
ALPHABET INC CAP STK CL A	COM	02079K305	5,210	4,317	SH		SOLE		0	0	4,317
ALPHABET INC CAP STK CL C	COM	02079K107	6,264	5,249	SH		SOLE		0	0	5,249
ALTRIA GROUP	COM	02209S103	8,220	136,308	SH		SOLE		0	0	136,308
AMAZON	COM	023135106	18,886	9,429	SH		SOLE		0	0	9,429
AMERICAN ELECTRIC POWER	COM	025537101	1,522	21,485	SH		SOLE		0	0	21,485
AMERICAN EXPRESS	COM	025816109	2,350	22,075	SH		SOLE		0	0	22,075
AMERICAN INTL GROUP COM NEW	COM	026874784	3,401	63,890	SH		SOLE		0	0	63,890
AMERICAN STATES WATER	COM	029899101	785	12,850	SH		SOLE		0	0	12,850
AMERICAN TOWER REIT COM	COM	03027X100	359	2,475	SH		SOLE		0	0	2,475
AMERICAN WTR WKS CO IN COM	COM	030420103	1,542	17,530	SH		SOLE		0	0	17,530
AMGEN	COM	031162100	2,339	11,285	SH		SOLE		0	0	11,285
ANADARKO PETROLEUM	COM	032511107	407	6,050	SH		SOLE		0	0	6,050
APACHE	COM	037411105	247	5,191	SH		SOLE		0	0	5,191
APPLE COMPUTER	COM	037833100	36,619	162,220	SH		SOLE		0	0	162,220
AQUA AMERICA	COM	03836W103	750	20,347	SH		SOLE		0	0	20,347
AT&T, INC.	COM	00206R102	5,025	149,653	SH		SOLE		0	0	149,653
ATLASSIAN CORP PLC CL A	COM	G06242104	273	2,850	SH		SOLE		0	0	2,850
ATMOS ENERGY	COM	049560105	393	4,194	SH		SOLE		0	0	4,194
AUTOMATIC DATA PROCESSING	COM	053015103	549	3,649	SH		SOLE		0	0	3,649
BANK OF AMERICA	COM	060505104	1,591	54,031	SH		SOLE		0	0	54,031
BANK OF NEW YORK MELLON CORPOR	COM	064058100	218	4,289	SH		SOLE		0	0	4,289
BAXTER INTERNATIONAL	COM	071813109	1,590	20,636	SH		SOLE		0	0	20,636
BECTON DICKINSON	COM	075887109	2,153	8,252	SH		SOLE		0	0	8,252
BELL CANADA ENTERPRISES (NEW)	COM	05534B760	414	10,231	SH		SOLE		0	0	10,231
BERKSHIRE HATHAWAY INC CL B NE	COM	084670702	10,357	48,377	SH		SOLE		0	0	48,377
BIOGEN IDEC INC	COM	09062X103	317	900	SH		SOLE		0	0	900
BIOTECHNOLOGY	COM	464287556	3,681	30,190	SH		SOLE		0	0	30,190
BLACK HILLS	COM	092113109	314	5,420	SH		SOLE		0	0	5,420
BOEING	COM	097023105	15,066	40,512	SH		SOLE		0	0	40,512
BRISTOL MYERS SQUIBB	COM	110122108	4,177	67,290	SH		SOLE		0	0	67,290
CALIFORNIA WATER SERVICE GROUP	COM	130788102	244	5,700	SH		SOLE		0	0	5,700
CANADIAN NATIONAL RAILWAY	COM	136375102	498	5,550	SH		SOLE		0	0	5,550
CANADIAN PACIFIC RAILWAY LTD	COM	13645T100	1,594	7,525	SH		SOLE		0	0	7,525
CATERPILLAR	COM	149123101	1,909	12,520	SH		SOLE		0	0	12,520
CELGENE	COM	151020104	2,206	24,653	SH		SOLE		0	0	24,653
CENTENE CORP DEL COM	COM	15135B101	558	3,855	SH		SOLE		0	0	3,855
CENTERPOINT ENERGY	COM	15189t107	232	8,422	SH		SOLE		0	0	8,422
CHEVRON CORP	COM	166764100	6,156	50,343	SH		SOLE		0	0	50,343
CHINA GOLD CORP COM	COM	16938L106	0	140,000	SH		SOLE		0	0	140,000
CIGNA	COM	125509109	2,143	10,295	SH		SOLE		0	0	10,295
CISCO SYSTEMS	COM	17275R102	2,597	53,382	SH		SOLE		0	0	53,382
CITIGROUP	COM	172967424	2,577	35,931	SH		SOLE		0	0	35,931
CLOROX COMPANY	COM	189054109	823	5,473	SH		SOLE		0	0	5,473
CMS ENERGY	COM	125896100	258	5,275	SH		SOLE		0	0	5,275
COCA COLA	COM	191216100	5,990	129,693	SH		SOLE		0	0	129,693
COLGATE PALMOLIVE	COM	194162103	1,821	27,210	SH		SOLE		0	0	27,210
COMCAST CORP CL A	COM	20030N101	2,746	77,560	SH		SOLE		0	0	77,560
CONOCOPHILLIPS	COM	20825C104	890	11,505	SH		SOLE		0	0	11,505
CONSOLIDATED EDISON	COM	209115104	1,712	22,473	SH		SOLE		0	0	22,473
CONSTELLATION BRANDS	COM	21036P108	442	2,050	SH		SOLE		0	0	2,050
CORNING	COM	219350105	678	19,215	SH		SOLE		0	0	19,215
COSTCO WHOLESALE	COM	22160K105	708	3,015	SH		SOLE		0	0	3,015
CSX	COM	126408103	3,798	51,296	SH		SOLE		0	0	51,296
CVS CORP	COM	126650100	206	2,619	SH		SOLE		0	0	2,619
DANAHER	COM	235851102	331	3,050	SH		SOLE		0	0	3,050
DOMINION RESOURCES	COM	25746U109	2,321	33,037	SH		SOLE		0	0	33,037
DOWDUPONT INC COM	COM	26078J100	5,960	92,688	SH		SOLE		0	0	92,688
DUKE ENERGY CORP NEW	COM	26441c204	2,489	31,113	SH		SOLE		0	0	31,113
DUKE REALTY INVESTMENTS	COM	264411505	471	16,607	SH		SOLE		0	0	16,607
EASTMAN CHEMICAL	COM	277432100	646	6,750	SH		SOLE		0	0	6,750
EATON CORP PLC SHS	COM	G29183103	221	2,550	SH		SOLE		0	0	2,550
EDISON INTERNATIONAL	COM	281020107	320	4,741	SH		SOLE		0	0	4,741
EDWARDS LIFESCIENCES	COM	28176E108	644	3,704	SH		SOLE		0	0	3,704
ELI LILLY	COM	532457108	1,848	17,222	SH		SOLE		0	0	17,222
EMERSON ELECTRIC	COM	291011104	1,203	15,717	SH		SOLE		0	0	15,717
ENERGY TRANSFER EQUITY COM UT	COM	29273V100	194	11,150	SH		SOLE		0	0	11,150
ENTERPRISE PRODUCTS PARTNERS L	COM	293792107	2,711	94,384	SH		SOLE		0	0	94,384
EOG RESOURCES	COM	26875P101	442	3,465	SH		SOLE		0	0	3,465
EVERGY INC COM	COM	30034W106	425	7,750	SH		SOLE		0	0	7,750
EVERSOURCE ENERGY COM	COM	30040W108	333	5,421	SH		SOLE		0	0	5,421
EXPRESS SCRIPTS	COM	30219g108	228	2,400	SH		SOLE		0	0	2,400
EXXON MOBIL	COM	30231G102	10,809	127,146	SH		SOLE		0	0	127,146
F M C CORP COM NEW	COM	302491303	318	3,650	SH		SOLE		0	0	3,650
FACEBOOK INC CL A	COM	30303M102	11,830	71,934	SH		SOLE		0	0	71,934
FEDEX	COM	31428x106	4,710	19,563	SH		SOLE		0	0	19,563
GENERAL DYNAMICS	COM	369550108	3,467	16,936	SH		SOLE		0	0	16,936
GENERAL MILLS	COM	370334104	1,270	29,609	SH		SOLE		0	0	29,609
GILEAD SCIENCES	COM	375558103	431	5,585	SH		SOLE		0	0	5,585
GOLDMAN SACHS GROUP	COM	38141G104	1,467	6,545	SH		SOLE		0	0	6,545
HALLIBURTON	COM	406216101	275	6,800	SH		SOLE		0	0	6,800
HERSHEY COMPANY	COM	427866108	1,459	14,305	SH		SOLE		0	0	14,305
HOME DEPOT	COM	437076102	11,124	53,703	SH		SOLE		0	0	53,703
HONEYWELL INTERNATIONAL	COM	438516106	8,040	48,320	SH		SOLE		0	0	48,320
HUNTSMAN CORP COM	COM	447011107	374	13,750	SH		SOLE		0	0	13,750
IBM	COM	459200101	5,166	34,166	SH		SOLE		0	0	34,166
ICON PLC SHS	COM	G4705A100	265	1,725	SH		SOLE		0	0	1,725
ILLINOIS TOOL WORKS	COM	452308109	398	2,825	SH		SOLE		0	0	2,825
INGERSOLL RAND	COM	G47791101	3,869	37,828	SH		SOLE		0	0	37,828
INTEL	COM	458140100	1,499	31,716	SH		SOLE		0	0	31,716
INTERNATIONAL PAPER	COM	460146103	2,796	56,899	SH		SOLE		0	0	56,899
JOHNSON & JOHNSON	COM	478160104	13,413	97,077	SH		SOLE		0	0	97,077
JP MORGAN CHASE	COM	46625H100	11,456	101,532	SH		SOLE		0	0	101,532
KANSAS CITY SOUTHERN	COM	485170302	318	2,815	SH		SOLE		0	0	2,815
KELLOGG	COM	487836108	262	3,750	SH		SOLE		0	0	3,750
KIMBERLY CLARK	COM	494368103	1,718	15,126	SH		SOLE		0	0	15,126
KRAFT HEINZ CO COM	COM	500754106	599	10,874	SH		SOLE		0	0	10,874
KROGER	COM	501044101	760	26,120	SH		SOLE		0	0	26,120
L3 TECHNOLOGIES INC COM	COM	502413107	715	3,365	SH		SOLE		0	0	3,365
LABORATORY CORP OF AMERICA	COM	50540R409	290	1,675	SH		SOLE		0	0	1,675
LAM RESEARCH	COM	512807108	743	4,900	SH		SOLE		0	0	4,900
LEAR CORP	COM	521865204	1,120	7,726	SH		SOLE		0	0	7,726
LOCKHEED MARTIN	COM	539830109	2,964	8,569	SH		SOLE		0	0	8,569
LOWES COMPANIES	COM	548661107	2,809	24,470	SH		SOLE		0	0	24,470
MAGELLAN MIDSTREAM PARTNERS LP	COM	559080106	2,372	35,032	SH		SOLE		0	0	35,032
MASTERCARD INC COM	COM	57636Q104	2,607	11,715	SH		SOLE		0	0	11,715
MCCORMICK & CO INC COM NON VTG	COM	579780206	500	3,800	SH		SOLE		0	0	3,800
MCDONALDS	COM	580135101	7,366	44,033	SH		SOLE		0	0	44,033
MCKESSON	COM	58155Q103	809	6,100	SH		SOLE		0	0	6,100
MEDTRONIC	COM	G5960L103	383	3,902	SH		SOLE		0	0	3,902
MERCK & CO INC NEW COM	COM	58933Y105	3,146	44,360	SH		SOLE		0	0	44,360
MGE ENERGY INC COM	COM	55277P104	210	3,300	SH		SOLE		0	0	3,300
MICROSOFT	COM	594918104	9,065	79,269	SH		SOLE		0	0	79,269
MIDDLESEX WATER	COM	596680108	321	6,650	SH		SOLE		0	0	6,650
MIMEDX GROUP INC COM	COM	602496101	140	22,700	SH		SOLE		0	0	22,700
MMM (3M COMPANY)	COM	88579Y101	10,808	51,293	SH		SOLE		0	0	51,293
MONDELEZ INTL INC CL A	COM	609207105	428	9,979	SH		SOLE		0	0	9,979
NETFLIX	COM	64110L106	2,181	5,832	SH		SOLE		0	0	5,832
NEW JERSEY RESOURCES	COM	646025106	444	9,633	SH		SOLE		0	0	9,633
NEXTERA ENERGY INC COM	COM	65339F101	871	5,200	SH		SOLE		0	0	5,200
NIKE	COM	654106103	499	5,895	SH		SOLE		0	0	5,895
NORFOLK SOUTHERN	COM	655844108	1,910	10,585	SH		SOLE		0	0	10,585
NORTHERN TRUST	COM	665859104	245	2,400	SH		SOLE		0	0	2,400
NORTHROP GRUMMAN	COM	666807102	1,028	3,242	SH		SOLE		0	0	3,242
OCCIDENTAL PETROLEUM	COM	674599105	527	6,422	SH		SOLE		0	0	6,422
ONEOK	COM	682680103	213	3,155	SH		SOLE		0	0	3,155
ORACLE	COM	68389X105	3,781	73,341	SH		SOLE		0	0	73,341
OTTER TAIL	COM	689648103	220	4,600	SH		SOLE		0	0	4,600
PEPSICO	COM	713448108	5,777	51,680	SH		SOLE		0	0	51,680
PFIZER	COM	717081103	2,668	60,548	SH		SOLE		0	0	60,548
PHILIP MORRIS INTL INC COM	COM	718172109	1,577	19,343	SH		SOLE		0	0	19,343
PIONEER NATURAL RESOURCES	COM	723787107	1,711	9,825	SH		SOLE		0	0	9,825
PORTLAND GEN ELEC CO COM NEW	COM	736508847	266	5,850	SH		SOLE		0	0	5,850
PPG INDUSTRIES	COM	693506107	881	8,075	SH		SOLE		0	0	8,075
PPL	COM	69351T106	310	10,603	SH		SOLE		0	0	10,603
PREMIER LASER SYS INC CL A	COM	740522107	0	10,400	SH		SOLE		0	0	10,400
PROCTER & GAMBLE	COM	742718109	7,318	87,935	SH		SOLE		0	0	87,935
PRUDENTIAL FINANCIAL	COM	744320102	342	3,376	SH		SOLE		0	0	3,376
PUBLIC SERVICE ENTERPRISE GROU	COM	744573106	1,881	35,644	SH		SOLE		0	0	35,644
RAYTHEON	COM	755111507	1,532	7,413	SH		SOLE		0	0	7,413
REALTY INCOME CORP COM	COM	756109104	222	3,910	SH		SOLE		0	0	3,910
RITE AID	COM	767754104	51	40,000	SH		SOLE		0	0	40,000
ROCKWELL AUTOMATION	COM	773903109	1,038	5,540	SH		SOLE		0	0	5,540
ROCKWELL COLLINS INC COM	COM	774341101	599	4,265	SH		SOLE		0	0	4,265
ROPER INDUSTRIES	COM	776696106	1,066	3,600	SH		SOLE		0	0	3,600
SALESFORCE COM INC COM	COM	79466L302	1,472	9,260	SH		SOLE		0	0	9,260
SCHLUMBERGER	COM	806857108	2,022	33,203	SH		SOLE		0	0	33,203
SEAGATE TECHNOLOGY PLC SHS	COM	G7945M107	254	5,375	SH		SOLE		0	0	5,375
SIMON PROPERTY	COM	828806109	212	1,205	SH		SOLE		0	0	1,205
SOUTHERN COMPANY	COM	842587107	1,107	25,411	SH		SOLE		0	0	25,411
STANLEY BLACK & DECKER COM	COM	854502101	435	2,975	SH		SOLE		0	0	2,975
STRYKER	COM	863667101	4,776	26,885	SH		SOLE		0	0	26,885
UGI CORP	COM	902681105	654	11,800	SH		SOLE		0	0	11,800
UNION PACIFIC	COM	907818108	5,980	36,730	SH		SOLE		0	0	36,730
UNITED PARCEL SERVICE CL B	COM	911312106	5,055	43,301	SH		SOLE		0	0	43,301
UNITED TECHNOLOGIES	COM	913017109	10,716	76,653	SH		SOLE		0	0	76,653
UNITEDHEALTH GROUP	COM	91324P102	3,327	12,508	SH		SOLE		0	0	12,508
VERIZON COMMUNICATIONS	COM	92343V104	11,184	209,488	SH		SOLE		0	0	209,488
VISA INC COM CL A	COM	92826C839	11,710	78,020	SH		SOLE		0	0	78,020
WAL-MART STORES	COM	931142103	2,319	24,694	SH		SOLE		0	0	24,694
WALKER INNOVATION INC ESCROW	COM	936ESC110	0	10,000	SH		SOLE		0	0	10,000
WALT DISNEY	COM	254687106	10,463	89,481	SH		SOLE		0	0	89,481
WEC ENERGY GROUP INC COM	COM	92939U106	266	3,993	SH		SOLE		0	0	3,993
WELLS FARGO	COM	949746101	886	16,859	SH		SOLE		0	0	16,859
WHIRLPOOL	COM	963320106	217	1,830	SH		SOLE		0	0	1,830
WORTHINGTON INDUSTRIES	COM	981811102	223	5,150	SH		SOLE		0	0	5,150
XYLEM INC COM	COM	98419M100	653	8,185	SH		SOLE		0	0	8,185
ZIMMER BIOMET HLDGS IN COM	COM	98956P102	245	1,870	SH		SOLE		0	0	1,870
ALPS ETF TR MED BREAKTHGH	COM	00162Q593	311	7,900	SH		SOLE		0	0	7,900
DJ SELECT DIVIDEND	COM	464287168	257	2,580	SH		SOLE		0	0	2,580
DJ US BASIC MATERIALS	COM	464287838	272	2,765	SH		SOLE		0	0	2,765
DJ US ENERGY	COM	464287796	544	12,969	SH		SOLE		0	0	12,969
DJ US HEALTHCARE	COM	464287762	8,674	42,752	SH		SOLE		0	0	42,752
DJ US HEALTHCARE PROVIDERS	COM	464288828	4,354	21,790	SH		SOLE		0	0	21,790
DJ US MEDICAL DEVICES	COM	464288810	2,936	12,910	SH		SOLE		0	0	12,910
DJ US TECHNOLOGY	COM	464287721	2,213	11,408	SH		SOLE		0	0	11,408
DJ US TRANSPORTATION	COM	464287192	291	1,425	SH		SOLE		0	0	1,425
DJ US UTILITIES SECTOR	COM	464287697	683	5,095	SH		SOLE		0	0	5,095
EXCHANGE TRADED CONCEP ROBO GL	COM	301505707	3,006	71,835	SH		SOLE		0	0	71,835
FIRST TR EXCH TRD FD DJ INTERN	COM	33733E302	14,231	100,545	SH		SOLE		0	0	100,545
FIRST TR ISE WTR INDEX COM ETF	COM	33733B100	203	4,000	SH		SOLE		0	0	4,000
FTSE/XINHUA CHINA 25 ETF	COM	464287184	219	5,120	SH		SOLE		0	0	5,120
GOLDMAN SACHS SOFTWARE	COM	464287515	625	3,050	SH		SOLE		0	0	3,050
GOLDMAN SACHS TECHNOLOGY	COM	464287549	330	1,580	SH		SOLE		0	0	1,580
INVESCO EXCHANGE TRADE DWA ENE	COM	46137V878	443	10,047	SH		SOLE		0	0	10,047
INVESCO EXCHANGE TRADE DWA STA	COM	46137V886	724	10,100	SH		SOLE		0	0	10,100
INVESCO EXCHANGE TRADE NASDAQ	COM	46137V530	260	1,935	SH		SOLE		0	0	1,935
INVESCO QQQ TR UNIT SER 1	COM	46090E103	20,997	113,016	SH		SOLE		0	0	113,016
ISHARES INC MSCI JPN ETF NEW	COM	46434G822	2,331	38,705	SH		SOLE		0	0	38,705
ISHARES TR CORE MSCI EURO	COM	46434V738	314	6,550	SH		SOLE		0	0	6,550
ISHARES TR DJ PHARMA INDX	COM	464288836	4,535	27,021	SH		SOLE		0	0	27,021
ISHARES TR DJ US FINL SEC	COM	464287788	1,776	14,625	SH		SOLE		0	0	14,625
ISHARES TR HGH DIV EQT FD	COM	46429B663	220	2,430	SH		SOLE		0	0	2,430
ISHARES TR MSCI ACWI EX	COM	464288240	335	7,035	SH		SOLE		0	0	7,035
ISHARES TR MSCI INDIA ETF	COM	46429B598	2,015	62,085	SH		SOLE		0	0	62,085
ISHARES TR RESIDENT INDEX	COM	464288562	369	5,870	SH		SOLE		0	0	5,870
ISHARES TR S&P 500 INDEX	COM	464287200	873	2,985	SH		SOLE		0	0	2,985
ISHARES TR S&P GL C STAPL	COM	464288737	353	7,030	SH		SOLE		0	0	7,030
ISHARES TR S&P GLO INFRAS	COM	464288372	1,409	33,471	SH		SOLE		0	0	33,471
ISHARES TR US PFD STK IDX	COM	464288687	219	5,900	SH		SOLE		0	0	5,900
MSCI EAFE	COM	464287465	4,457	65,563	SH		SOLE		0	0	65,563
MSCI EMERGING MARKET	COM	464287234	1,400	32,630	SH		SOLE		0	0	32,630
MSCI SOUTH KOREA	COM	464286772	708	10,375	SH		SOLE		0	0	10,375
PROSHARES TR SHORT S&P 500 NE	COM	74347B425	218	8,000	SH		SOLE		0	0	8,000
RUSSELL 2000	COM	464287655	947	5,619	SH		SOLE		0	0	5,619
RUSSELL 2000 GROWTH	COM	464287648	591	2,749	SH		SOLE		0	0	2,749
RUSSELL MIDCAP GROWTH	COM	464287481	1,209	8,922	SH		SOLE		0	0	8,922
SELECT SECTOR SPDR TR COMMUNIC	COM	81369Y852	200	4,100	SH		SOLE		0	0	4,100
SELECT SECTOR SPDR TR SBI CONS	COM	81369Y407	15,599	133,079	SH		SOLE		0	0	133,079
SELECT SECTOR SPDR TR SBI CONS	COM	81369Y308	5,906	109,521	SH		SOLE		0	0	109,521
SELECT SECTOR SPDR TR SBI INT-	COM	81369Y605	12,100	438,740	SH		SOLE		0	0	438,740
SP 400 MIDCAP	COM	464287507	412	2,048	SH		SOLE		0	0	2,048
SP 500 GROWTH	COM	464287309	473	2,673	SH		SOLE		0	0	2,673
SP 500 VALUE	COM	464287408	240	2,075	SH		SOLE		0	0	2,075
SPDR DOW JONES INDL AV UT SER	COM	78467X109	7,663	28,985	SH		SOLE		0	0	28,985
SPDR ENERGY	COM	81369Y506	4,065	53,674	SH		SOLE		0	0	53,674
SPDR HEALTH CARE	COM	81369y209	17,013	178,809	SH		SOLE		0	0	178,809
SPDR INDEX SHS FDS EURO STOXX	COM	78463X202	634	16,585	SH		SOLE		0	0	16,585
SPDR INDUSTRIAL SECTOR	COM	81369y704	11,767	150,100	SH		SOLE		0	0	150,100
SPDR MATERIALS SECTOR	COM	81369y100	2,666	46,023	SH		SOLE		0	0	46,023
SPDR MID CAP 400	COM	78467Y107	399	1,088	SH		SOLE		0	0	1,088
SPDR SERIES TRUST NYSE TECH ET	COM	78464A102	2,349	24,874	SH		SOLE		0	0	24,874
SPDR SERIES TRUST S&P BIOTECH	COM	78464A870	1,854	19,345	SH		SOLE		0	0	19,345
SPDR SERIES TRUST S&P RETAIL E	COM	78464A714	462	9,065	SH		SOLE		0	0	9,065
SPDR SP500 TRUST SR 1	COM	78462F103	21,779	74,916	SH		SOLE		0	0	74,916
SPDR UTILITIES SELECT	COM	81369Y886	4,698	89,241	SH		SOLE		0	0	89,241
STREETTRACKS GOLD SHARES	COM	78463v107	2,499	22,167	SH		SOLE		0	0	22,167
STREETTRACKS INDEX SHS DJ STOX	COM	78463X103	1,327	39,500	SH		SOLE		0	0	39,500
TECHNOLOGY SELECT SECT SPDR ET	COM	81369Y803	6,121	81,268	SH		SOLE		0	0	81,268
UBS AG JERSEY BRH ALERIAN INFR	COM	902641646	746	31,045	SH		SOLE		0	0	31,045
VANECK VECTORS ETF TR AGRIBUSI	COM	92189F700	871	13,263	SH		SOLE		0	0	13,263
VANECK VECTORS ETF TR BIOTECH	COM	92189F726	6,053	44,497	SH		SOLE		0	0	44,497
VANECK VECTORS ETF TR SEMICOND	COM	92189F676	340	3,200	SH		SOLE		0	0	3,200
VANGUARD Developed Markets ETF	COM	921943858	329	7,614	SH		SOLE		0	0	7,614
VANGUARD EMERGING MARKETS VIPE	COM	922042858	677	16,532	SH		SOLE		0	0	16,532
VANGUARD FINANCIAL ETF	COM	92204a405	338	4,877	SH		SOLE		0	0	4,877
VANGUARD INDEX FDS GROWTH ETF	COM	922908736	338	2,100	SH		SOLE		0	0	2,100
VANGUARD INTL EQTY IDX ALLWRLD	COM	922042775	1,397	26,853	SH		SOLE		0	0	26,853
VANGUARD INTL EQTY IDX EURPEAN	COM	922042874	331	5,900	SH		SOLE		0	0	5,900
VANGUARD SPECIALIZED DIV APP E	COM	921908844	605	5,472	SH		SOLE		0	0	5,472
VANGUARD TELECOM SERVICES VIPE	COM	92204A884	3,105	35,692	SH		SOLE		0	0	35,692
VANGUARD VALUE ETF	COM	922908744	212	1,916	SH		SOLE		0	0	1,916
VANGUARD WORLD FDS HEALTH CAR	COM	92204A504	1,665	9,230	SH		SOLE		0	0	9,230
VANGUARD WORLD FDS INF TECH ET	COM	92204A702	16,724	82,563	SH		SOLE		0	0	82,563
WISDOMTREE TR US QLT SHRHD YLD	COM	97717W547	768	8,818	SH		SOLE		0	0	8,818
FIDELITY MAGELLAN FUND	MF	316184100	291	25,735	SH		SOLE		0	0	25,735
HANCOCK JOHN INV TRUST LARGE C	MF	41013P103	233	4,564	SH		SOLE		0	0	4,564
LEGG MASON PRTNRS EQT INVS VAL	MF	52470J407	714	21,150	SH		SOLE		0	0	21,150
MATLIN & PARTNERS ACQU WT EXP	WT	57682V114	228	305,000	SH		SOLE		0	0	305,000