Today in the market, Wednesday July 23, 2008:   Stocks traded in positive territory all day with heavy volume and finished nicely higher.  Lots of earnings data (110 companies reported) came out today and the market liked what it saw.  The S&P500 was up 0.41% and the Nasdaq up 0.95%.  Advancing shares were almost twice the decliners.  All in all, not too shabby a day. RSI’s Themes:   One ETF pick today and it is the Mexico fund.  Stock picks were a mixed bag with a new pick,  Red Hat.  Remember when that was the red hot stock and market darling?  At the top of the Tech Bubble it traded close to $140/share.  Today it ended it $21.43.  Anyway RSI believes it has potential, but don't expect anything close to its record highs of eight years ago.  Again we are seeing a ton of falling knives as RSI detects some life in this group.  Please use caution.  As its name implies, you can get slashed. ETF/CEF Medium Volatility: EWW - Mexico iShares Stocks Low Volatility: ATT - AT&T Inc. - Sr Notes Stocks Medium Volatility: CCC - Calgon Carbon Corp. DCI - Donaldson Co, Inc. PDA - Perdigao S.A. RHT - Red Hat, Inc. Stock Picks New to RSI: Red Hat, Inc., together with its subsidiaries, provides open source software solutions to enterprises. ETF/CEF Catch a Falling Knife: ADX    Adams Express Co. DGT    SPDR DJ Global Titans ETF DIA    Diamonds EFA    EAFE Index iShares EFG    iShare MSCI Growth EFV    iShares MSCI Value ETG    Eaton Vance Tax-Advantaged Global Dividend Income Fund ETW    Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund EWG    Germany iShares EWH    HongKong iShares EWJ    Japan iShares EWY    South Korea iShares EXI    iShares S&P Global Industrials Sector Index Fund FEU    streetTRACKS Dow Jones STOXX 50 Fund FEZ    streetTRACKS Dow Jones Euro STOXX 50 Fund FGF    Sun America Focused Alpha Growth Fund Inc. IHF    iShares Dow Jones U.S. Healthcare Providers IOO    S&P Glbl 100 iShares ISI    iShares S&P 1500 Index Fund ITF    TOPIX 150 Index iShares IVE    S&P 500 Value iShares IVV    S&P 500 iShares IWB    Russell 1000 iShares IWD    Russell 1000 Value iShares IWV    Russell 3000 iShares IWW    Russell 3000 Value iShares IYC    Consumer iShares IYK    Consumer Non-Cyc IYY    Total Market iShares IYZ    Telecom iShares JKD    iShares Morningstar Large Core Index Fund JKI    iShares Morningstar Mid Value Index Fund KF    Korea Fund, Inc. NYC    iShares NYSE Composite Index Fund OEF    S&P 100 Index Fund - iShares PPA    PowerShares Aerospace and Defense Portfolio PRF    PowerShares FTSE RAFI U.S. 1000 Portfolio PWV    Powershares Dynamic Large Cap SCD    LMP Capital and Income Fund Inc. SPY    S&P 500 SPDRs TTF    Thai Fund, Inc. TTH    Telecom Holders VEU    Vanguard FTSE All-World ex-US VGK    Vanguard European VIPERs VO    Vanguard Mid Cap VIPERs VOX    Vanguard Telecommunication Services VIPERs VTV    Vanguard Value VIPERs VV    Vanguard Large Cap VIPERs XLG    Rydex Russell Top 50 XLI    Industrials Select Sector SPDR I didn't filter this list so here is the full 50 count.  Use this list with caution.  Talk to you tomorrow.