Today in the market, Friday July 18, 2008: After spending most of the day underwater the stock market closed mixed (S&P +0.03 Nasdaq -1.28). Overall the week was quite strong as crude oil prices abated and the financial sector regained some ground. I certainly hope this is the end to the slide we have seen these past several weeks. RSI’s Themes: RSI's fund picks represent foreign debt, materials and Mexico. The stock picks are in the healthcare and industrial goods sectors. I cannot make any sense of a theme form all this. Got an idea? ETF/CEF Low Volatility: ESD - Western Asset Emerging Markets Debt Fund Inc. XLB - Materials Select Sector SPDR ETF/CEF Medium Volatility: EWW - Mexico iShares These three funds haven't burned up the charts but they still may do better going forward. Stocks Medium Volatility: COV - Covidien Ltd. VMI - Valmont Industries, Inc. As you can see from the chart, Valmont was up huge today +16%....don't chase after it. FYI - it was first picked by RSI on our Dec. 20th and then again in February, April and May of this year. ETF/CEF Catch a Falling Knife (CFK): AGD Alpine Global Dynamic Dividend Fund DLS Wisdom Tree International Small Cap Dividend Fund DOO Wisdom Tree International Dividend Top 100 Fund DTH Wisdom Tree DIEFA High Yielding Equity Fund DWM Wisdom Tree DIEFA Fund EFA EAFE Index iShares EFV iShares MSCI Value EVV Eaton Vance Limited Duration Income Fund EWG Germany iShares EWH HongKong iShares EWI Italy iShares EWK Belgium iShares EWL Switzerland iShares EWQ France iShares EWU United Kingdom iShares ICF Realty Major iShares IEV Europe 350 iShares IWD Russell 1000 Value iShares IWM Russell 2000 iShares IWW Russell 3000 Value iShares JKF iShares Morningstar Large Value Index Fund KIE SPDR KBW Insurance Index ETF PBW Powershares Wilderhill Clean Energy Portfolio PPA PowerShares Aerospace and Defense Portfolio RWX SPDR DJ Wilshire Intl Real Estate Index ETF VBR Vanguard Small Cap Value VIPERs XLY Consumer Discretionary Select Sector SPDR This gaggle again represents all the fallen sectors that RSI believes will recover from their decline. Remember, CFK funds are not recommended. I'll blog you next Monday PM....have a great weekend.