It recently increased its share buyback program from 10% to 25% of outstanding shares, citing a strong capital structure and healthy cash flows. We have a significant increase to the buyback, a new contract, two of the smartest investors participating in the stock and an analyst sees AA as a potential takeover target. This all makes Alcoa ripe for a buy.

Last week, Dallas based ETP upped its fiscal 2007 EBITDA guidance by $20 million to $1 billion for fiscal year-ended August 31, 2007. In addition, the Partnership sees that EBITDA figure continuing to rise by 20% to $1.2 billion in fiscal 2008 and guidance for fiscal 2009 is in the $1.4 billion to $1.5 billion range. The Chairman and Chief Executive Office, Kelcy Warren, bought 89,000 shares of ETP on October 5th.

I’m adding both ETP & ETE to the portfolio because as of late there has been substantial insider buying. The CEO at Energy Transfer Equity LP, which owns a stake in propane and natural gas company Energy Transfer Partners LP, (ETP) has been buying shares on the open market and recently purchased 290,000 shares on September 27 and another 89,000 shares on October 5th, bringing his total to over 5 million shares. It looks like Mr. Warren is taking advantage of a dip in ETE’s stock price. It is currently trading down 15% from its July high of $42.95

Avon announced on October 11th a $2 billion repurchase program. The buyback program will begin after its current buyback program is completed and is planned to last for five years.

StreetInsider.com reports Herley Industries announced that its Board of Directors has authorized the purchase of up to an aggregate of one million share. Myron Levy, Herley's Chairman and CEO, stated, "The Board of Directors believes that the common stock of the company is undervalued, and has authorized the repurchase plan for up to one million shares of the Company's stock."

iMergent, Inc. is an e-services company offering e-commerce technology, training and Web-based technologies and resources to small businesses and entrepreneurs. Steven Mihaylo recently purchased 304,300 shares for a total of $7,120,000.