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
AVX Corp COMMON 002444107 1,932 142,273 SH   SOLE   133,293 0 8,980
Abbott Laboratories COMMON 002824100 5,251 133,574 SH   SOLE   115,541 0 18,033
Agrium COMMON 008916108 1,351 14,936 SH   SOLE   13,606 0 1,330
Alaska Air Group COMMON 011659109 736 12,631 SH   SOLE   11,910 0 721
Allianz SE COMMON 018805101 695 48,259 SH   SOLE   46,797 0 1,462
Allstate COMMON 020002101 1,748 24,995 SH   SOLE   24,149 0 846
Amgen Inc COMMON 031162100 8,579 56,382 SH   SOLE   49,508 0 6,874
Anworth Mortgage Asset Corp COMMON 037347101 1,659 352,909 SH   SOLE   327,197 0 25,712
Apple Computer COMMON 037833100 8,767 91,705 SH   SOLE   81,357 0 10,348
Archer-Daniels-Midland COMMON 039483102 7,554 176,123 SH   SOLE   155,110 0 21,013
BB&T Corporation COMMON 054937107 4,253 119,420 SH   SOLE   104,698 0 14,722
Baker Hughes COMMON 057224107 3,757 83,259 SH   SOLE   70,446 0 12,813
Bank of America COMMON 060505104 3,505 264,135 SH   SOLE   212,071 0 52,065
Bank of NY Mellon Corp COMMON 064058100 5,736 147,650 SH   SOLE   126,394 0 21,256
Barrick Gold COMMON 067901108 3,896 182,489 SH   SOLE   151,807 0 30,682
BHP Billiton COMMON 088606108 658 23,054 SH   SOLE   21,932 0 1,122
Boeing Co. COMMON 097023105 1,318 10,152 SH   SOLE   9,772 0 380
Bristow Group Inc COMMON 110394103 990 86,724 SH   SOLE   75,001 0 11,723
Brocade Communications Systems COMMON 111621306 4,222 459,893 SH   SOLE   385,414 0 74,479
CSX COMMON 126408103 926 35,497 SH   SOLE   34,858 0 639
CVS Health COMMON 126650100 4,172 43,573 SH   SOLE   37,178 0 6,395
Canadian Imperial Bank of Commerce (CIBC) COMMON 136069101 3,397 45,257 SH   SOLE   38,510 0 6,747
Caterpillar COMMON 149123101 4,777 63,019 SH   SOLE   55,824 0 7,194
Celanese Corp COMMON 150870103 7,147 109,200 SH   SOLE   94,210 0 14,990
Coach COMMON 189754104 7,324 179,784 SH   SOLE   155,458 0 24,327
Corning COMMON 219350105 7,607 371,427 SH   SOLE   326,250 0 45,177
Credit Suisse Group COMMON 225401108 809 75,649 SH   SOLE   63,036 0 12,613
Cummins Inc COMMON 231021106 5,016 44,614 SH   SOLE   38,189 0 6,425
Deere & Co. COMMON 244199105 5,309 65,511 SH   SOLE   57,397 0 8,113
Delta Air Lines COMMON 247361702 3,517 96,529 SH   SOLE   81,412 0 15,117
Diodes COMMON 254543101 315 16,768 SH   SOLE   11,003 0 5,765
Walt Disney COMMON 254687106 9,946 101,679 SH   SOLE   87,675 0 14,005
Ericsson COMMON 294821608 3,091 402,501 SH   SOLE   348,398 0 54,103
Fifth Third Bancorp COMMON 316773100 3,965 225,440 SH   SOLE   188,295 0 37,145
Fluor COMMON 343412102 3,508 71,185 SH   SOLE   62,364 0 8,821
Foot Locker COMMON 344849104 971 17,700 SH   SOLE   17,262 0 438
General Electric Co. COMMON 369604103 1,674 53,187 SH   SOLE   48,517 0 4,670
Gilead Sciences COMMON 375558103 5,310 63,649 SH   SOLE   55,662 0 7,987
Goodyear Tire COMMON 382550101 5,481 213,610 SH   SOLE   183,996 0 29,614
HSBC Holdings PLC COMMON 404280406 1,269 40,532 SH   SOLE   37,512 0 3,020
Halliburton Co. COMMON 406216101 3,279 72,396 SH   SOLE   60,632 0 11,763
HollyFrontier Corp COMMON 436106108 3,431 144,339 SH   SOLE   125,996 0 18,343
Honda Motor COMMON 438128308 1,267 50,005 SH   SOLE   46,035 0 3,970
ING Groep NV COMMON 456837103 3,540 342,674 SH   SOLE   279,857 0 62,817
Ingram Micro COMMON 457153104 5,581 160,478 SH   SOLE   132,700 0 27,778
Intel COMMON 458140100 8,256 251,718 SH   SOLE   224,495 0 27,223
Int'l Business Machines COMMON 459200101 5,545 36,534 SH   SOLE   32,643 0 3,891
iShares MSCI Australia Index ETF 464286103 2,138 109,948 SH   SOLE   109,948 0 0
iShares MSCI Austria Index ETF 464286202 1,789 126,280 SH   SOLE   126,280 0 0
iShares MSCI Belgium Capped Index ETF 464286301 1,787 100,904 SH   SOLE   94,059 0 6,845
iShares MSCI France Index Fund ETF 464286707 1,138 49,751 SH   SOLE   49,751 0 0
iShares MSCI Turkey Investable Market Index Fund ETF 464286715 1,765 44,508 SH   SOLE   41,442 0 3,066
iShares MSCI Taiwan Index ETF 464286731 3,921 279,048 SH   SOLE   270,117 0 8,931
iShares MSCI Switzerland Index ETF 464286749 3,838 129,432 SH   SOLE   125,514 0 3,918
iShares MSCI Spain Capped Index ETF 464286764 1,143 45,774 SH   SOLE   45,774 0 0
iShares MSCI South Korea Index ETF 464286772 4,045 77,688 SH   SOLE   75,280 0 2,408
iShares MSCI Germany Index Fund ETF 464286806 4,496 186,962 SH   SOLE   182,118 0 4,844
iShares MSCI Netherlands Inves ETF 464286814 3,668 158,466 SH   SOLE   153,363 0 5,103
iShares MSCI Japan Index ETF 464286848 6,266 544,913 SH   SOLE   534,151 0 10,762
iShares MSCI Italy Capped Inde ETF 464286855 948 87,403 SH   SOLE   87,403 0 0
iShares MSCI Hong Kong Index ETF 464286871 3,187 162,772 SH   SOLE   156,577 0 6,195
iShares iBoxx Invest Grade Corp Bond ETF 464287242 2,398 19,537 SH   SOLE   19,330 0 207
iShares Barclays Agency Bond ETF 464288166 1,732 14,946 SH   SOLE   14,041 0 905
iShares JPMorgan USD Emerg Markets Bond ETF 464288281 613 5,328 SH   SOLE   5,249 0 79
iShares National Muni Bond ETF 464288414 489 4,296 SH   SOLE   4,252 0 44
iShares iBoxx High Yield Corporate Bond ETF 464288513 1,783 21,056 SH   SOLE   20,776 0 280
iShares Barclays MBS Bond ETF ETF 464288588 4,134 37,595 SH   SOLE   35,168 0 2,427
iShares Barclays 3-7 Year Treasury Bond ETF ETF 464288661 1,821 14,296 SH   SOLE   14,151 0 145
iShares MSCI All Peru Capped Index Fund ETF 464289842 1,514 49,014 SH   SOLE   49,014 0 0
Jabil Circuit COMMON 466313103 1,921 104,029 SH   SOLE   95,448 0 8,581
Johnson & Johnson COMMON 478160104 7,749 63,881 SH   SOLE   57,287 0 6,594
Keycorp COMMON 493267108 1,393 126,053 SH   SOLE   113,645 0 12,408
Kimberly Clark COMMON 494368103 2,028 14,749 SH   SOLE   13,450 0 1,299
Kohl's COMMON 500255104 3,495 92,176 SH   SOLE   77,970 0 14,206
Lexmark Int'l COMMON 529771107 4,418 117,039 SH   SOLE   105,168 0 11,871
MDC Holdings COMMON 552676108 6,153 252,784 SH   SOLE   220,112 0 32,672
Microsoft COMMON 594918104 9,395 183,605 SH   SOLE   162,515 0 21,091
National Oilwell COMMON 637071101 4,752 141,231 SH   SOLE   123,647 0 17,585
Newmont Mining Corp Holding Co. COMMON 651639106 2,667 68,168 SH   SOLE   63,483 0 4,685
Nippon Telegraph and Telephone COMMON 654624105 3,655 77,634 SH   SOLE   62,979 0 14,655
Norfolk Southern COMMON 655844108 6,736 79,121 SH   SOLE   68,550 0 10,571
Old National Bancorp COMMON 680033107 4,289 342,309 SH   SOLE   296,331 0 45,978
PNC Bank COMMON 693475105 4,726 58,067 SH   SOLE   49,594 0 8,473
PetMed Express COMMON 716382106 1,914 102,012 SH   SOLE   95,998 0 6,014
Pfizer COMMON 717081103 2,664 75,656 SH   SOLE   65,958 0 9,698
Prudential COMMON 744320102 6,543 91,709 SH   SOLE   81,221 0 10,489
Qualcomm COMMON 747525103 1,892 35,312 SH   SOLE   32,584 0 2,728
Rayonier COMMON 754907103 821 31,292 SH   SOLE   27,610 0 3,682
Royal Dutch Shell A COMMON 780259206 2,359 42,713 SH   SOLE   35,851 0 6,862
Staples COMMON 855030102 2,025 234,927 SH   SOLE   201,626 0 33,301
Symantec COMMON 871503108 5,218 254,058 SH   SOLE   225,799 0 28,260
Trinity Industries COMMON 896522109 2,413 129,922 SH   SOLE   112,499 0 17,423
Tutor Perini Corp COMMON 901109108 5,169 219,472 SH   SOLE   187,500 0 31,972
Tyson Foods COMMON 902494103 5,250 78,601 SH   SOLE   68,001 0 10,600
Universal Corp COMMON 913456109 1,452 25,150 SH   SOLE   24,407 0 743
Vanguard Short-Term Bond ETF ETF 921937827 1,565 19,312 SH   SOLE   18,427 0 885
Vanguard Total Bond Market ETF ETF 921937835 4,065 48,216 SH   SOLE   45,060 0 3,156
Wal-Mart Stores COMMON 931142103 5,743 78,655 SH   SOLE   70,579 0 8,076
Wells Fargo & Co. COMMON 949746101 5,187 109,595 SH   SOLE   95,857 0 13,739
Whirpool COMMON 963320106 5,647 33,889 SH   SOLE   29,659 0 4,230
American Eagle Outfitters COMMON 02553E106 6,362 399,382 SH   SOLE   350,767 0 48,615
Target COMMON 87612E106 5,217 74,724 SH   SOLE   63,232 0 11,491
Total SA ADR COMMON 89151e109 2,983 62,027 SH   SOLE   56,967 0 5,060
The Travelers Companies COMMON 89417e109 2,233 18,760 SH   SOLE   17,162 0 1,598
AT&T Inc COMMON 00206r102 2,299 53,198 SH   SOLE   47,986 0 5,212
Aetna COMMON 00817Y108 11,214 91,818 SH   SOLE   78,718 0 13,099
American Railcar COMMON 02916P103 2,617 66,301 SH   SOLE   59,643 0 6,658
Benchmark Electronics COMMON 08160h101 5,183 245,065 SH   SOLE   214,226 0 30,839
Biogen Idec COMMON 09062X103 4,070 16,831 SH   SOLE   14,050 0 2,781
CA Inc COMMON 12673P105 6,765 206,068 SH   SOLE   179,091 0 26,977
Capital One Financial COMMON 14040H105 4,655 73,296 SH   SOLE   63,084 0 10,212
Cardinal Health COMMON 14149Y108 1,213 15,551 SH   SOLE   14,613 0 938
Cisco Systems COMMON 17275R102 8,756 305,196 SH   SOLE   267,181 0 38,015
Comcast Corp CL A COMMON 20030N101 8,210 125,943 SH   SOLE   107,464 0 18,480
Curaegis Technologie COMMON 23127Q102 7 12,400 SH   SOLE   12,400 0 0
DSW Inc COMMON 23334L102 2,172 102,552 SH   SOLE   93,448 0 9,104
Direxion Daily Dev Mkts Bull 3X Shrs ETF 25459W789 361 8,896 SH   SOLE   8,896 0 0
Direxion Daily S&P500 Bull 3X Shares ETF 25459W862 334 3,800 SH   SOLE   3,800 0 0
ENI SPA ADR COMMON 26874r108 969 29,964 SH   SOLE   25,886 0 4,078
Entergy COMMON 29364G103 4,139 50,878 SH   SOLE   47,399 0 3,479
Exxon Mobil COMMON 30231G102 5,763 61,479 SH   SOLE   54,871 0 6,608
FedEx Corp COMMON 31428X106 4,537 29,891 SH   SOLE   24,608 0 5,283
First Trust Tactical High Yield ETF 33738D408 368 7,728 SH   SOLE   7,728 0 0
First Trust Enhanced Short Maturity ETF 33739Q408 865 14,443 SH   SOLE   14,443 0 0
Geo Group COMMON 36162J106 4,399 128,715 SH   SOLE   110,340 0 18,375
General Motors COMMON 37045V100 4,407 155,724 SH   SOLE   131,818 0 23,906
Goldman Sachs Group COMMON 38141G104 2,726 18,348 SH   SOLE   15,341 0 3,007
iShares MSCI Indonesia Index ETF 46429B309 1,877 76,718 SH   SOLE   71,448 0 5,270
iShares MSCI Ireland Index ETF 46429B507 1,812 50,409 SH   SOLE   50,409 0 0
iShares Floating Rate Note ETF 46429B655 713 14,090 SH   SOLE   12,978 0 1,112
iShares MSCI United Kingdom Index ETF 46434V548 6,196 403,128 SH   SOLE   395,468 0 7,660
JP Morgan Chase COMMON 46625H100 7,965 128,171 SH   SOLE   113,215 0 14,955
Manpower Inc COMMON 56418H100 7,103 110,391 SH   SOLE   95,787 0 14,603
McKesson COMMON 58155Q103 4,156 22,267 SH   SOLE   18,383 0 3,884
Merck & Co. COMMON 58933Y105 1,479 25,676 SH   SOLE   25,340 0 336
Metlife COMMON 59156r108 4,296 107,865 SH   SOLE   92,766 0 15,099
Mosaic Company New COMMON 61945c103 3,194 122,007 SH   SOLE   105,823 0 16,184
Oracle COMMON 68389X105 6,126 149,678 SH   SOLE   127,347 0 22,331
PIMCO 0-5 Year High Yield Corporate Bond Index ETF ETF 72201R783 2,790 28,815 SH   SOLE   28,357 0 458
Powershares DB Optimum Yield ETF 73937v106 668 37,445 SH   SOLE   36,648 0 797
SPDR S&P 500 ETF 78462F103 193 922 SH   SOLE   805 0 117
SPDR Barclays High Yield Bond ETF 78464A417 570 15,977 SH   SOLE   15,810 0 167
Sanofi COMMON 80105n105 5,168 123,489 SH   SOLE   109,706 0 13,783
Materials Select Sector SPDR ETF 81369y100 499 10,776 SH   SOLE   10,776 0 0
Health Care Select Sector SPDR ETF 81369y209 2,609 36,380 SH   SOLE   36,380 0 0
Consumer Staples Select Sector SPDR ETF 81369y308 1,573 28,529 SH   SOLE   28,083 0 446
Consumer Discret Select Sector SPDR ETF 81369y407 2,821 36,140 SH   SOLE   35,538 0 602
Energy Select Sector SPDR ETF 81369y506 2,472 36,221 SH   SOLE   35,534 0 687
Financials Select Sector SPDR ETF 81369y605 3,738 163,541 SH   SOLE   161,516 0 2,025
Technology Select Sector SPDR ETF 81369Y803 4,162 95,961 SH   SOLE   94,880 0 1,081
Utilities Select Sector SPDR ETF 81369y886 336 6,396 SH   SOLE   5,918 0 478
Shire Pharmaceuticals COMMON 82481R106 3,603 19,575 SH   SOLE   16,603 0 2,972
Stage Stores COMMON 85254c305 574 117,591 SH   SOLE   115,262 0 2,329
Synchrony Financial COMMON 87165B103 622 24,598 SH   SOLE   22,295 0 2,303
Vaneck Vectors Emerging Markets High Yield Bond ETF ETF 92189F353 7,409 311,549 SH   SOLE   301,579 0 9,970
Vanguard Telecom Services ETF ETF 92204A884 451 4,579 SH   SOLE   4,322 0 257
Vanguard Short-Term Corp Bond Index ETF ETF 92206C409 1,075 13,293 SH   SOLE   12,622 0 671
Vanguard Mortgage-Backed Securities ETF ETF 92206c771 3,743 69,499 SH   SOLE   66,626 0 2,873
Vanguard Interm-Tm Corp Bond Index ETF ETF 92206C870 4,527 50,633 SH   SOLE   47,755 0 2,878
Waste Management COMMON 94106L109 7,233 109,144 SH   SOLE   94,796 0 14,348
Yamana Gold COMMON 98462Y100 4,407 847,471 SH   SOLE   753,933 0 93,539
Axis Capital COMMON G0692U109 5,637 102,492 SH   SOLE   85,692 0 16,800
Eaton Corp PLC COMMON G29183103 7,051 118,044 SH   SOLE   105,096 0 12,948
Ensco PLC COMMON G3157S106 715 73,660 SH   SOLE   60,328 0 13,332
Marvell Tech COMMON g5876h105 2,361 247,694 SH   SOLE   216,271 0 31,423
Medtronic PLC COMMON G5960L103 1,898 21,869 SH   SOLE   21,166 0 703
Seagate Tech COMMON g7945m107 5,155 211,623 SH   SOLE   184,478 0 27,146
Ship Finance Int'l COMMON G81075106 2,942 199,615 SH   SOLE   186,013 0 13,602
Tsakos Energy COMMON G9108L108 1,513 322,554 SH   SOLE   271,392 0 51,161
Royal Caribbean Cruises COMMON v7780t103 5,932 88,337 SH   SOLE   74,532 0 13,805
Navios Maritime Holdings Inc COMMON Y62196103 452 558,515 SH   SOLE   463,119 0 95,396
TeeKay Shipping COMMON Y8564W103 1,495 209,630 SH   SOLE   179,210 0 30,420