After Mebane Faber made many millions off of his "Ivy Portfolio" book (when his white paper on that topic could be downloaded for free), he launched the web site AlphaClone to follow 13F filings of the investment pros (hey not a bad gig... a book, and a high fee web site, who needs investing?). 

This is a great idea, but hey, the 13F information is free so why pay Faber money for his site? Forget about it, along comes TickerSpy.

Take a look at TickerSpy it tracks all the "pros" (minus Jim Cramer ) and allows users to create a watchlist (hey you can do that here too on MTRIG), and has other great stock selection ideas.

So if you joined Faber get your money back and log into TickerSpy.

In order for members to track the MTR-TM using the Signal Forecast and real-time data (as discussed here) the index will be recalculated to match the Value Line Arithmetic Index. This change will go in place later this week. 

If you have any questions regarding this change please post your comments to this post.

AVERAGING DOWN
Opinion Piece - September 4 2009
Author - Teddi Knight

There is a general belief among most traders that the worst mistake any investor can make is averaging down. Many investors fall in love with their stocks and as the stock declines they continue to purchase additional shares. Often investors tend to be unwilling to admit a mistake in their stock selection. When the stock declines they continue to purchase. Another problem is when a stock declines and the fundamentals change, many investors believe the stock may recover and in an attempt to "break even" they purchase additional shares. These are just some of the reasons investors average down.

Dennis Gartman, famed author of the Gartman newsletter, claims that the worst mistake an investor can make is averaging down on a stock. He tells his readers that when a stock moves higher, that's the time to average in. In January 2008, Gartman told the audience at the Toronto Financial Forum that America had entered a recession, probably in late 2007. In early 2008 he was short stocks like Google and RIM and was long Gold, Agriculture Commodities and Bank Stocks. Gartman has mentioned a number of times that top traders, such as himself, will be wrong 60 to 80 percent of the time or more. He believes that it is important to sell quickly when it is apparent a trade is not working out. He believes that when a trade does work out, the investor should buy more as the stock is moving in the right direction.

So what is the best approach to take? 

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