Portfolio, June 1 2012

S&P 500: 1278.0 (90.9%)

Portfolio: $463556 (92.7%)

XBI      3560 shares    $160,123

XHB    7920 shares    $154,757

XLY      3560 shares    $148,594

Cash                            $82

Notes: Portfolio value has dropped about 4/5 the drop seen in the S&P 500 over the same period, both due largely to market concerns over European debt defaults.  Percentage investments in each fund/ETF as of May 1 were not exactly equal due to preexisting holdings on some current investments.