Instuitional Investor - Pinnacle Advisory Group, Inc.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Sector Spdr Trust	XLB	1,249,383	$165,931,000	7.63%
2.	Janus Detroit Str Tr		1,869,846	$99,214,000	4.56%
3.	Sector Spdr Trust	XLB	589,909	$99,146,000	4.56%
4.	Ishares Tr		1,541,372	$91,003,000	4.18%
5.	Ishares Trust	IEF	701,461	$79,216,000	3.64%