NEWS: The market closed out the quarter on a strong note with gains across the board. The Dow added 46 points or 0.4% to close at 12,262. The S&P 500 finished the quarter at 1322, up 7 points or 0.6%. The NASDAQ had a nice day, gaining 18 points or 0.8% and closing at 2279.

THE BOTTOMLINE: The first quarter is in the books and it was one to forget for the bulls. It was the worst quarter in 4 years for stocks. Here is how the major indices finished the quarter: Dow -7.6%, S&P 500 -10%, NASDAQ - 14%, Russell 2000 -10%, NYSE Composite -9.5%.

Some of the sectors fared much better and worse: Dow Jones US Railroads Index +10%, Dow Jones Commodity Index +10%, SIG Steel Producers Index +7%, Dow Jones Transportation Average +5%, Dow Jones US Wireless Communications Index -41%, Wilderhill Clean Energy Index -29%, and AMEX Securities Broker/Dealer Index -26%.

DAILY ETF BULLETIN

NEWS: The first quarter was not kind to ETFs that had anything to do with US or International equities. The lone big winners were commodity-related. Both oil and gold closed higher for the quarter even with a big sell-off in the last two weeks. One international ETF that has been able to shrug off the weakness of its bigger brother to the north is Mexico. The iShares Mexico ETF (symbol: EWW) gained 6% during the quarter as the S&P 500 lost 10%.

THE BOTTOMLINE: So why has Mexico ETF been able to sidestep the credit problems and continue the long-term uptrend? The first reason is that the ETF is very concentrated in the top three holdings, which have done well this year. America Movil (symbol: AMX), a large mobile phone operator in the country and other areas of Latin America closed at a fresh one-month high today and is up 4% on the year. The stock makes up a ridiculous 25% of the ETF. The number two holding, Cemex (symbol: CX), is a cement maker that has been flat all year; the stock accounts for 12% of the ETF. The third holding that makes up another 10% of the portfolio is Telefonos de Mexico (symbol: TMX). TMX closed at a new 2008 high today as more money is flying into the Mexican telecom industry.

I do like Mexico as an investment choice heading into the second quarter, but investors must realize the large amount of risk with an ETF that has nearly half of its assets in three stocks. The advantage of diversification in an ETF does not exist for EWW. When it comes to Mexico it is surrounding nations in Latin America, we have another option for investors to consider and we will be considering it for our Portfolio Management Clients. The ETF I am referring to is already in our All-World ETF Portfolio that is found in The ETF Bulletin newsletter.

Do not wait another day, the market is giving you an opportunity - you have to be prepared and ready to buy the next big winners. Go to www.ETFBulletin.com to sign-up today.