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
Abbott Laboratories COMMON 002824100 5,938 133,698 SH   SOLE   118,433 0 15,264
Aetna COMMON 00817Y108 10,496 82,287 SH   SOLE   71,517 0 10,770
Agrium COMMON 008916108 1,707 17,862 SH   SOLE   16,044 0 1,818
Alaska Air Group COMMON 011659109 1,099 11,912 SH   SOLE   11,002 0 910
Allianz SE COMMON 018805101 1,460 78,769 SH   SOLE   75,023 0 3,746
Allstate COMMON 020002101 2,055 25,213 SH   SOLE   23,732 0 1,481
American Eagle Outfitters COMMON 02553E106 5,591 398,518 SH   SOLE   356,116 0 42,403
American Railcar COMMON 02916P103 2,649 64,441 SH   SOLE   58,642 0 5,799
Amgen Inc COMMON 031162100 9,241 56,326 SH   SOLE   50,257 0 6,069
Anworth Mortgage Asset Corp COMMON 037347101 1,938 349,275 SH   SOLE   320,758 0 28,517
Apple Computer COMMON 037833100 12,682 88,281 SH   SOLE   79,497 0 8,784
Archer-Daniels-Midland COMMON 039483102 7,815 169,748 SH   SOLE   151,137 0 18,611
AT&T Inc COMMON 00206r102 2,364 56,898 SH   SOLE   53,451 0 3,447
AVX Corp COMMON 002444107 2,370 144,671 SH   SOLE   134,618 0 10,053
Axis Capital COMMON G0692U109 6,372 95,063 SH   SOLE   81,679 0 13,384
Baker Hughes COMMON 057224107 4,852 81,118 SH   SOLE   70,266 0 10,852
Bank of America COMMON 060505104 6,194 262,571 SH   SOLE   219,067 0 43,504
Bank of NY Mellon Corp COMMON 064058100 5,887 124,636 SH   SOLE   106,998 0 17,638
Barrick Gold COMMON 067901108 3,135 165,064 SH   SOLE   139,681 0 25,383
BB&T Corporation COMMON 054937107 5,144 115,069 SH   SOLE   102,315 0 12,754
Benchmark Electronics COMMON 08160h101 5,490 172,653 SH   SOLE   148,369 0 24,284
BHP Billiton COMMON 088606108 701 19,291 SH   SOLE   18,455 0 836
Biogen Idec COMMON 09062X103 4,665 17,061 SH   SOLE   14,757 0 2,304
Boeing Co COMMON 097023105 1,957 11,064 SH   SOLE   10,478 0 586
Brocade Communications Systems COMMON 111621306 6,759 541,610 SH   SOLE   472,702 0 68,908
CA Inc COMMON 12673P105 6,352 200,260 SH   SOLE   177,605 0 22,654
Canadian Imperial Bank of Commerce (CIBC) COMMON 136069101 3,880 45,010 SH   SOLE   39,782 0 5,229
Capital One Financial COMMON 14040H105 6,278 72,447 SH   SOLE   64,010 0 8,437
Cardinal Health COMMON 14149Y108 1,621 19,875 SH   SOLE   17,120 0 2,755
Carnival Corp COMMON 143658300 1,418 24,076 SH   SOLE   23,514 0 562
Caterpillar COMMON 149123101 5,674 61,170 SH   SOLE   54,866 0 6,304
Celanese Corp COMMON 150870103 9,065 100,895 SH   SOLE   87,700 0 13,195
Cisco Systems COMMON 17275R102 10,158 300,535 SH   SOLE   268,272 0 32,263
Coach COMMON 189754104 7,261 175,692 SH   SOLE   156,477 0 19,215
Comcast Corp CL A COMMON 20030N101 9,047 240,672 SH   SOLE   210,167 0 30,505
Consumer Discret Select Sector SPDR ETF 81369Y407 2,480 28,198 SH   SOLE   27,601 0 597
Consumer Staples Select Sector SPDR ETF 81369Y308 4,607 84,404 SH   SOLE   83,464 0 940
Corning COMMON 219350105 9,955 368,715 SH   SOLE   328,727 0 39,987
CSX COMMON 126408103 1,039 22,319 SH   SOLE   21,530 0 789
Cummins Inc COMMON 231021106 5,541 36,649 SH   SOLE   31,420 0 5,229
CVS Health COMMON 126650100 3,677 46,844 SH   SOLE   41,303 0 5,542
Deere & Co. COMMON 244199105 6,870 63,108 SH   SOLE   55,992 0 7,115
Delta Air Lines COMMON 247361702 4,573 99,489 SH   SOLE   86,395 0 13,095
Digital Realty Trust COMMON 253868103 5,608 52,709 SH   SOLE   45,860 0 6,849
Diodes COMMON 254543101 371 15,431 SH   SOLE   9,666 0 5,765
Direxion Daily Dev Mkts Bull 3X Shrs ETF 25459W789 507 9,078 SH   SOLE   9,078 0 0
Direxion Daily Emrg Mkts Bull 3X Shares ETF 25490K281 203 2,750 SH   SOLE   2,750 0 0
Direxion Daily Mid Cap Bull 3X Shares ETF 25459W730 203 5,665 SH   SOLE   5,665 0 0
Direxion Daily S&P500 Bull 3X Shares ETF 25459W862 596 4,715 SH   SOLE   4,715 0 0
Direxion Daily Small Cap Bull 3X Shares ETF 25459W847 386 3,646 SH   SOLE   3,643 0 3
DSW Inc COMMON 23334L102 2,175 105,157 SH   SOLE   96,057 0 9,100
Eaton Corp PLC COMMON G29183103 8,242 111,154 SH   SOLE   99,562 0 11,593
Energy Select Sector SPDR ETF 81369Y506 676 9,669 SH   SOLE   9,106 0 563
Entergy COMMON 29364G103 3,804 50,074 SH   SOLE   46,623 0 3,451
Ericsson COMMON 294821608 1,817 273,676 SH   SOLE   247,990 0 25,686
Exxon Mobil COMMON 30231G102 5,023 61,245 SH   SOLE   55,630 0 5,615
FedEx Corp COMMON 31428X106 5,807 29,758 SH   SOLE   25,195 0 4,563
Fifth Third Bancorp COMMON 316773100 5,571 219,343 SH   SOLE   187,832 0 31,510
Financials Select Sector SPDR ETF 81369Y605 3,679 155,033 SH   SOLE   153,940 0 1,093
Fluor COMMON 343412102 4,229 80,370 SH   SOLE   69,942 0 10,428
Foot Locker COMMON 344849104 1,425 19,051 SH   SOLE   18,278 0 773
General Electric Co. COMMON 369604103 1,645 55,210 SH   SOLE   50,079 0 5,131
General Motors COMMON 37045V100 5,575 157,670 SH   SOLE   137,766 0 19,905
Gilead Sciences COMMON 375558103 4,322 63,635 SH   SOLE   57,138 0 6,497
Global X FTSE Colombia 20 ETF ETF 37950E200 3,228 340,147 SH   SOLE   335,842 0 4,305
Goldman Sachs Group COMMON 38141G104 3,997 17,400 SH   SOLE   14,956 0 2,444
Goodyear Tire COMMON 382550101 7,298 202,717 SH   SOLE   179,126 0 23,591
Halliburton Co. COMMON 406216101 3,524 71,617 SH   SOLE   61,234 0 10,382
Health Care Select Sector SPDR ETF 81369Y209 5,289 71,129 SH   SOLE   70,437 0 692
HollyFrontier Corp COMMON 436106108 5,373 189,597 SH   SOLE   166,806 0 22,791
Honda Motor COMMON 438128308 1,545 51,058 SH   SOLE   46,152 0 4,906
HSBC Holdings PLC COMMON 404280406 1,900 46,542 SH   SOLE   42,854 0 3,688
Industrial Select Sector SPDR ETF 81369Y704 4,227 64,968 SH   SOLE   64,968 0 0
ING Groep NV COMMON 456837103 5,873 389,222 SH   SOLE   336,584 0 52,638
Intel COMMON 458140100 8,855 245,500 SH   SOLE   222,701 0 22,799
Int'l Business Machines COMMON 459200101 6,339 36,402 SH   SOLE   32,902 0 3,500
iShares Barclays 20 Plux Year Treas Bond ETF 464287432 3,088 25,584 SH   SOLE   24,736 0 848
iShares Barclays 3-7 Year Treasury Bond ETF ETF 464288661 1,687 13,710 SH   SOLE   13,312 0 398
iShares Barclays 7-10 Year Treasury ETF 464287440 2,398 22,713 SH   SOLE   21,996 0 717
iShares Barclays MBS Bond ETF ETF 464288588 5,973 56,061 SH   SOLE   54,590 0 1,471
iShares iBoxx Invest Grade Corp Bond ETF 464287242 3,124 26,492 SH   SOLE   25,810 0 682
iShares JPMorgan USD Emerg Markets Bond ETF 464288281 2,301 20,235 SH   SOLE   19,698 0 537
iShares MSCI All Peru Capped Index Fund ETF 464289842 4,303 126,256 SH   SOLE   124,140 0 2,116
iShares MSCI Australia Index ETF 464286103 3,626 160,370 SH   SOLE   158,528 0 1,842
iShares MSCI Austria Index ETF 464286202 2,336 128,591 SH   SOLE   126,978 0 1,613
iShares MSCI Belgium Capped Index ETF 464286301 621 33,085 SH   SOLE   28,651 0 4,434
iShares MSCI Brazil Capped Index Fund ETF 464286400 8,178 218,323 SH   SOLE   213,607 0 4,716
iShares MSCI Canada Index ETF 464286509 331 12,327 SH   SOLE   10,756 0 1,571
iShares MSCI Chile Capped ETF ETF 464286640 3,824 87,776 SH   SOLE   85,883 0 1,893
iShares MSCI France Index Fund ETF 464286707 2,103 79,329 SH   SOLE   78,279 0 1,050
iShares MSCI Frontier 100 ETF 464286145 297 10,697 SH   SOLE   10,697 0 0
iShares MSCI Germany Index Fund ETF 464286806 4,373 152,108 SH   SOLE   147,698 0 4,410
iShares MSCI Hong Kong Index ETF 464286871 2,582 116,052 SH   SOLE   114,586 0 1,466
iShares MSCI India Index Fund ETF 46429B598 2,576 81,803 SH   SOLE   79,641 0 2,162
iShares MSCI Indonesia Index ETF 46429B309 2,597 100,686 SH   SOLE   96,756 0 3,930
iShares MSCI Italy Capped Inde ETF 46434G830 340 13,203 SH   SOLE   13,203 0 0
iShares MSCI Japan Index ETF 46434G822 5,882 114,216 SH   SOLE   111,519 0 2,697
iShares MSCI Netherlands Inves ETF 464286814 2,464 91,912 SH   SOLE   88,000 0 3,912
iShares MSCI New Zealand Index ETF 464289123 4,448 105,353 SH   SOLE   103,209 0 2,144
iShares MSCI Philippines Index ETF 46429B408 312 9,145 SH   SOLE   7,925 0 1,220
iShares MSCI Poland Investable ETF ETF 46429B606 1,583 73,375 SH   SOLE   70,992 0 2,383
iShares MSCI South Africa Index ETF 464286780 3,642 65,987 SH   SOLE   64,641 0 1,346
iShares MSCI South Korea Index ETF 464286772 4,059 65,610 SH   SOLE   63,600 0 2,010
iShares MSCI Spain Capped Index ETF 464286764 2,000 65,762 SH   SOLE   65,073 0 689
iShares MSCI Switzerland Index ETF 464286749 3,145 98,343 SH   SOLE   94,863 0 3,480
iShares MSCI Taiwan Index ETF 46434G772 4,743 142,724 SH   SOLE   138,750 0 3,974
iShares MSCI Thailand Capped ETF ETF 464286624 5,076 65,085 SH   SOLE   63,366 0 1,719
iShares MSCI United Kingdom Index ETF 46435G334 816 25,068 SH   SOLE   24,829 0 239
iShares National Muni Bond ETF 464288414 839 7,698 SH   SOLE   7,508 0 190
Jabil Circuit COMMON 466313103 3,322 114,864 SH   SOLE   101,750 0 13,114
Johnson & Johnson COMMON 478160104 7,933 63,690 SH   SOLE   58,313 0 5,377
JP Morgan Chase COMMON 46625H100 10,115 115,157 SH   SOLE   102,445 0 12,712
Keycorp COMMON 493267108 2,280 128,222 SH   SOLE   113,011 0 15,211
Kimberly Clark COMMON 494368103 1,930 14,665 SH   SOLE   13,103 0 1,562
Kohl's COMMON 500255104 3,718 93,398 SH   SOLE   81,250 0 12,148
Manpower Inc COMMON 56418H100 10,608 103,424 SH   SOLE   91,104 0 12,320
Marvell Tech COMMON g5876h105 3,656 239,581 SH   SOLE   211,562 0 28,019
Materials Select Sector SPDR ETF 81369Y100 1,018 19,423 SH   SOLE   19,423 0 0
McKesson COMMON 58155Q103 3,151 21,254 SH   SOLE   18,878 0 2,376
MDC Holdings COMMON 552676108 7,876 262,103 SH   SOLE   232,386 0 29,717
Medtronic PLC COMMON G5960L103 1,464 18,175 SH   SOLE   16,574 0 1,601
Merck & Co. COMMON 58933Y105 2,039 32,088 SH   SOLE   28,812 0 3,276
Metlife COMMON 59156r108 5,723 108,348 SH   SOLE   95,996 0 12,352
Microsoft COMMON 594918104 11,134 169,063 SH   SOLE   150,820 0 18,243
Mosaic COMMON 61945c103 3,395 116,348 SH   SOLE   104,322 0 12,026
National Oilwell COMMON 637071101 5,569 138,913 SH   SOLE   124,485 0 14,427
Navios Maritime Holdings Inc COMMON Y62196103 672 359,197 SH   SOLE   309,283 0 49,914
New Residential Investment COMMON 64828T201 195 11,495 SH   SOLE   10,738 0 757
Newmont Mining Corp Holding Co. COMMON 651639106 2,349 71,273 SH   SOLE   66,928 0 4,345
Nike Inc. COMMON 654106103 5,053 90,674 SH   SOLE   79,355 0 11,318
Nippon Telegraph and Telephone COMMON 654624105 3,410 79,602 SH   SOLE   67,245 0 12,358
Norfolk Southern COMMON 655844108 8,032 71,735 SH   SOLE   63,200 0 8,535
Oceaneering Int'l COMMON 675232102 2,965 109,503 SH   SOLE   95,780 0 13,723
Old National Bancorp COMMON 680033107 5,645 325,357 SH   SOLE   283,314 0 42,042
Oracle COMMON 68389X105 6,599 147,933 SH   SOLE   129,104 0 18,829
PetMed Express COMMON 716382106 1,968 97,720 SH   SOLE   90,942 0 6,778
Pfizer COMMON 717081103 2,552 74,585 SH   SOLE   65,309 0 9,276
PIMCO 0-5 Year High Yield Corporate Bond Index ETF ETF 72201R783 776 7,674 SH   SOLE   7,455 0 219
PNC Bank COMMON 693475105 6,616 55,024 SH   SOLE   48,104 0 6,920
Powershares DB Optimum Yield ETF 73937V106 714 42,917 SH   SOLE   42,917 0 0
Powershares S&P 500 Consumer Discretionary ETF 73937B506 330 6,253 SH   SOLE   6,253 0 0
Powershares Senior Loan Portfolio ETF 73936Q769 1,279 55,007 SH   SOLE   52,372 0 2,635
Prudential COMMON 744320102 9,300 87,176 SH   SOLE   78,339 0 8,837
Qualcomm COMMON 747525103 4,575 79,784 SH   SOLE   70,879 0 8,906
Rayonier COMMON 754907103 897 31,667 SH   SOLE   27,966 0 3,701
Real Estate Select SPDR ETF 81369Y860 1,122 35,510 SH   SOLE   35,100 0 410
Royal Caribbean Cruises COMMON v7780t103 8,399 85,611 SH   SOLE   73,549 0 12,062
Royal Dutch Shell A COMMON 780259206 2,328 44,144 SH   SOLE   37,662 0 6,481
Sanofi COMMON 80105n105 4,226 93,401 SH   SOLE   84,228 0 9,173
Schlumberger COMMON 806857108 1,167 14,938 SH   SOLE   13,058 0 1,880
Seagate Technology COMMON g7945m107 9,702 211,236 SH   SOLE   187,757 0 23,479
Ship Finance Int'l COMMON G81075106 2,897 197,044 SH   SOLE   180,037 0 17,007
Shire Pharmaceuticals COMMON 82481R106 4,786 27,469 SH   SOLE   23,902 0 3,567
SPDR Bloomberg Barclays 1 to 3 Month Bill ETF 78464A680 1,291 28,233 SH   SOLE   26,617 0 1,616
SPDR S&P Emerging Markets Small Cap ETF ETF 78463X756 4,101 90,368 SH   SOLE   89,237 0 1,131
Staples COMMON 855030102 1,850 210,983 SH   SOLE   187,203 0 23,779
Symantec COMMON 871503108 7,537 245,662 SH   SOLE   220,779 0 24,884
Synchrony Financial COMMON 87165B103 1,541 44,935 SH   SOLE   41,780 0 3,155
Target COMMON 87612E106 4,062 73,592 SH   SOLE   63,974 0 9,618
Technology Select Sector SPDR ETF 81369Y803 7,385 138,532 SH   SOLE   137,315 0 1,217
TeeKay Shipping COMMON Y8564W103 1,165 127,290 SH   SOLE   110,702 0 16,588
The Travelers Companies COMMON 89417e109 2,259 18,740 SH   SOLE   16,754 0 1,986
Total SA COMMON 89151e109 3,095 61,386 SH   SOLE   58,683 0 2,703
Trinity Industries COMMON 896522109 3,009 113,322 SH   SOLE   102,234 0 11,088
Tsakos Energy COMMON G9108L108 1,524 318,089 SH   SOLE   273,668 0 44,421
Tutor Perini Corp COMMON 901109108 5,256 165,284 SH   SOLE   143,466 0 21,818
Tyson Foods COMMON 902494103 4,349 70,468 SH   SOLE   61,445 0 9,023
Utilities Select Sector SPDR ETF 81369Y886 297 5,787 SH   SOLE   5,291 0 496
Vaneck Vectors Emerging Markets High Yield Bond ETF ETF 92189F353 5,588 226,586 SH   SOLE   222,847 0 3,739
Vaneck Vectors Russia ETF ETF 92189F403 5,685 275,020 SH   SOLE   268,146 0 6,874
VanEck Vectors Semiconductor ETF ETF 92189f676 877 11,000 SH   SOLE   11,000 0 0
Vanguard Interm-Tm Corp Bond Index ETF ETF 92206C870 1,593 18,444 SH   SOLE   17,475 0 969
Vanguard Mortgage-Backed Securities ETF ETF 92206c771 807 15,369 SH   SOLE   15,369 0 0
Vanguard Short-Term Bond ETF ETF 921937827 1,949 24,451 SH   SOLE   23,947 0 504
Vanguard Short-Term Corp Bond Index ETF ETF 92206C409 434 5,439 SH   SOLE   4,979 0 460
Vanguard Telecom Services ETF ETF 92204A884 301 3,176 SH   SOLE   2,904 0 272
Vanguard Total Bond Market ETF ETF 921937835 1,338 16,501 SH   SOLE   15,480 0 1,021
Vanguard Total Stock Market ETF ETF 922908769 279 2,299 SH   SOLE   2,299 0 0
Wal-Mart Stores COMMON 931142103 5,541 76,875 SH   SOLE   70,141 0 6,734
Walt Disney COMMON 254687106 11,783 103,913 SH   SOLE   92,190 0 11,723
Wells Fargo & Co. COMMON 949746101 5,482 98,487 SH   SOLE   88,148 0 10,339
Whirpool COMMON 963320106 5,842 34,098 SH   SOLE   30,577 0 3,522
Williams Sonoma COMMON 969904101 1,235 23,034 SH   SOLE   19,169 0 3,865
Yamana Gold COMMON 98462Y100 1,998 723,838 SH   SOLE   666,674 0 57,164
Zimmer Biomet COMMON 98956p102 5,022 41,124 SH   SOLE   35,375 0 5,749