If you were looking for help from the economic front or from the oil patch today to help out the market, that wasn't in the cards. Home prices plunged by a record 15.3% from may 2007 to May 2008. Consumer confidence also came in at a 16-year low. From bottom to top to bottom we had more than a 150 point trading range in the DJIA today. These are the unofficial closing levels:

• DJIA 11810.04 (-32.89)
• S&P 500 1314.54 (-3.46)
• NASDAQ 2368.28 (-17.46)
• 10YR T-Note 4.105% (-0.063%)
• 52-week lows
• Top 10 Analyst Calls

Eastman Kodak Co. (NYSE: EK) saw a sharp rise with shares up 15% at $4.20 late in the day after the company announced a large IRS refund and a $1 billion buyback to retire close to half of its stock.

Eli Lilly & Co. (NYSE: LLY) hit the 52-week low list and a multi-year low earlier today before recovering list after the FDA delayed a decision on its anti-clot blood thinning drug, with shares down some 1.5% at $46.87 in the final minutes today.

Kroger Co. (NYSE: KR) saw shares rise a sharp 7% with shares at $27.88 in the final minutes today after the company raised guidance.

Reliance Steel (NYSE: RS) saw shares up after the company raised its own guidance again. Its shares were only up 0.5% at $73.85 in the final minutes of the trading day. Shares were up over 5% at the start.

United Parcel Service Inc. (NYSE: UPS) saw a drop after the company came clean and fessed up that high fuel prices and low demand for premium delivery services were hurting business domestically and abroad. Shares were down 6% at $62.26 late in the day.

Readers of this space know that the investment bias is toward large-cap companies with demonstrated business models and who have a competitive advantage in established markets, preferably with a favorable global trend as a support. And with the above in mind, Reliance Steel is worth an evaluation.

First, don't think of Reliance Steel & Aluminum (NYSE: RS) as a steel company; think of it as a 'diversified' metal processing services company.

Reliance supplies metal process services and also manufactures metal products for the construction, transportation, aerospace, manufacturing, and semiconductor industries.

Here are some highlights from this past week's earnings coverage from BloggingStocks:

• Abbott Laboratories Inc. (NYSE: ABT) first-quarter profit soared on overseas demand for Humira.
• Advanced Micro Devices Inc. (NYSE: AMD) posted a bigger-than-expected loss, its sixth straight.
• Coca-Cola Co. (NYSE: KO) posted better-than-expected first-quarter results on strength overseas.
• CSX Corp. (NYSE: CSX) first-quarter profit soared on strong demand for grain, ethanol, and coal.
• eBay Inc. (NASDAQ: EBAY) beat first-quarter expectations but the outlook was uninspiring.
• Google Inc. (NASDAQ: GOOG) first-quarter profit soared 42%, beating Wall Street estimates.
• Intel Corp. (NASDAQ: INTC) first-quarter earnings slipped but exceeded expectations.
• Intuitive Surgical Inc. (NASDAQ: ISRG) beat first-quarter estimates and offered a disappointing outlook.
• J.B. Hunt Transport Services Inc. (NASDAQ: JBHT) missed first-quarter estimates on rising fuel prices.
• Nokia Corp. (NYSE: NOK) first-quarter profit missed expectations and it warned of a coming decline.
• Pfizer Inc. (NYSE: PFE) first-quarter profits fell and missed analysts' expectations.
• Reliance Steel & Aluminum Co. (NYSE: RS) lowered its second-quarter outlook.
• Royal Philips Electronics posted a bigger-than-expected fall in profit on weak North America TV sales.
• Wolverine World Wide Inc. (NYSE: WWW) beat earnings estimates but shareholders were not impressed.
• Xerox Corp. (NYSE: XRX) posted a first-quarter loss that matched analysts' estimates.

A few days behind schedule, but here is my list of eight stocks. Included in the list there are two holdovers from the 2007 list of seven stocks. I do not see any value in creating an entirely new list when I have done well over the years riding the winners. This is particularly true if the reasons you bought the stock in the first place remain valid.

These eight picks for the year will be tracked monthly with updated results. The initial share prices are from December 28, 2007. They are focused on defense, energy, food, gold, metals, mining, oil, power, and every one pays a dividends. The following are my "Quick Takes" in alphabetical order with links to the complete stories.

Anglo American plc (ADR) (NASDAQ: AAUK) is a world-class player in precious metals, diamonds, and commodities, which are all growing in demand. When the world economy is booming, all of its mining products are sought after, and when the market runs scared, gold goes up. It pays a dividend yield of 1.9% and is trading almost 25% off its 52-week high. For full story: Chasing Value: Anglo American diamonds and gold are your best friend. The closing price on December 28, 2007, for AAUK was $30.79.

Got merger mania too? On tonight's MAD MONEY segment on CNBC, Jim Cramer got into the spirit of the takeovers that had the Street buzzing today and discussed how to find the next Oregon Steel Mills, Inc. (NYSE:OS) or similar acquisition possibility.

He says Reliance Steel & Aluminum (NYSE:RS) is still cheap, a considerable supplier of both rolled and stainless steel, which is still in short supply. Cramer opined that a smaller company, like Reliance, could be bought, but he didn't think Nucor Corporation (NYSE:NUE) was small enough for an acquisition target. He thought RS would be the most likely target.

He would hold a hearing about who lost Oregon Steel. He thinks the WSJ publishing a steel glut that kept you out of this name. Anyway, he will go on and on but he thinks RS is the next steel buyout potential.

RS has a $2.7 billion market cap; 52-week trading range of $28.43 to $49.75. It closed up 5.7% at $35.55 in normal trading and traded up another 4% to $37.15 in after-hours trading after Cramer touted it. If the trailing P/E is accurate it looks like RS only trades at 7.5 times earnings and seven times December 2007 earnings.

Jon Ogg is a partner in 24/7 Wall St., LLC; he does not own securities in the companies he covers.