"Our latest pick combines two highly profitable asset classes, small caps and emerging markets," says Nicholas Vardy. In The Global Bull Market Alert, he an emerging markets ETF.

"The SPDR S&P Emerging Markets Small Cap ETF (NYSE: EWX) offers you access to small caps in emerging markets that otherwise would be off limits.

"While some of the larger emerging market stocks trade in the United States, these smaller players never will.

"In addition, it's well known that U.S. small caps tend to outperform large caps over the long run. Their small size makes them nimble and quicker to react to changing market conditions.

"Our latest pick is a bet on a low-profile foreign market, Israel, which has turned out to be one of the world's top performers this year," says Nicholas Vardy.

In The Global Bull Market Alert, he explains, We recommend the iShares MSCI Israel Cap Invest Market Index (NYSE: EIS), as I expect the Israeli market to continue to perform well over the next few months."

"Global markets continue to be locked in a trading range, consolidating their gains of the last four months; this kind of see-saw trading is actually quite typical of the summer months, and I expect the range-bound trading to continue.

This post is part of a featured report on stocks in the Chinese online gaming sector.

"We're increasing our bet on Asia through Shanghai-based Chinese gaming company, Shanda Interactive Entertainment Ltd. (NASDAQ: SNDA)," says international stock expert Nick Vardy in The Global Bull Market Alert.

"I expect this small-cap stock to be a solid, risk-return trade, especially if you are willing to endure some volatility.

"First, Shanda operates online games in the People's Republic of China and is a pioneer in the hugely complex role-playing games that people play over the Internet.

"Resource-rich, politically stable and increasingly prosperous, Chile is an attractive play on commodities and growing wealth in emerging markets," explains Mark Salzinger, editor of The Investor's ETF Report.

Chile is also a favorite investment position of Nicholas Vardy, editor of The Global Bull Market Alert, who notes, "Thanks to its fiscal prudence, its lack of a domestic housing bubble, and its sizeable wealth reserves, Chile has weathered the current global economic meltdown better than most countries."

Here, the two advisors assess the longer-term opportunity in iShares MSCI Chile (NYSE: ECH), an exchange-traded fund.

"iShares MSCI Emerging Markets (ASE: EEM) is a bet on on a short-term bottom in emerging markets," says international expert Nick Vardy in The Global Bull Market Alert.

"This recommendation is based on the belief that the initiatives of policy makers across the globe will trigger a sustained, short-term bounce between now and the end of the year.

"First, the policy responses to the global economic crisis have been both massive and coordinated. These efforts combined will ease the shortage of dollars that has ravaged emerging markets.

"Second, emerging market equities are as cheap as they have ever been. The benchmark MSCI Emerging Markets index is trading at a P/E in the single digits, down from 18.5 a year ago.

"Bull markets have been few and far between this summer; one of the few sectors that looks to have re-entered a bull trend is biotechnology," says international investing expert Nick Vardy.

In his Global Bull Market Alert, he explains, "The S&P Biotech ETF (ASE: XBI) looks to capitalize on this traditionally highly volatile and boom bust burdened sector." Here's his bullish assessment.

"Why the sudden merger and acquisitions frenzy in biotech? Put simply, 'Big Pharma' is cash-rich but innovation-poor.

"As patents on huge profit generators such as Pfizer's Lipitor expire, the traditional pharmaceutical industry is eager to refill its emptying drug pipelines.

"On the one hand, Big Pharma hopes giant acquisitions jump start pharmaceuticals' sputtering innovation machines. On the other hand, existing biotech blockbusters would also hedge against the coming collapse in earnings from drugs that are coming off patent.

"While most funds have been dumping stocks in India's sliding market, billionaire global investor George Soros has turned contrarian on India," says international expert Nick Vardy who now suggests "bottom fishing" in India.

In his Global Bull Market Alert, he explains, "One of the best ways to follow in his footsteps are by purchasing the WisdomTree India Earnings ETF (NYSE: EPI)."

"According to the Times of India, the Hungarian born Soros -- who since last August is again actively managing his famed Quantum fund -- recently went on a buying spree in India making investments valued at $140 million in a wide range of Indian companies.

"In many ways, Soros' call is a vintage contrarian bet. India has been one of the worst performers in the global markets this year.

"Institutional investors have pulled out more than $7 billion from Indian equities as the BSE Sensex crashed 7,400 points, or 35%, from its peak of 20,873 back on Jan. 8 amid concerns over a weak global markets, soaring global oil prices and spiraling inflation in India.

"Brokerages and investment banks are uniformly gloomy about India. Inflation has accelerated to just under 12%, a 13-year high. Industrial output in May 2008 rose 3.8%, the slowest in six years. Manufacturing growth slowed to 3.9% in May, while capital goods output growth slowed to 2.5% vs. a robust 22.4% last year.

"In a year wracked by economic uncertainty and stumbling global stock markets, Russia has been an unlikely standout performer," explains global investment expert Nick Vardy.

In his Global Bull Market Alert, the advisor asserts, "The Market Vectors Russia ETF (NYSE: RSX), is a bet that Russia's buoyant stock market performance this year is set to continue."

"Even as China is now down by more than 50%, bad boy Russia's performance has been second only to Brazil this year and it actually has outperformed its BRIC rival by a hair during the past three months.

"Despite Russia's reputation as a country rife with corruption, scant respect for genuine democracy and the Rule of Law, it's always hard to argue with success.

"Scan the Russian press, and it quickly becomes apparent that the contrast between the collective economic mood of Russia and the United States couldn't be sharper. While U.S. drivers cringe at $4 per gallon gas, Russia celebrates high oil prices as the source of its newfound wealth.

"To add insult to injury, the most recent Forbes 400 list confirms that Moscow now boasts more billionaires than New York City.

"Profits from coal may be even bigger than from gold, which is viewed as coal's more glamorous and higher profile rival," notes Nick Vardy.

The editor of The Global Bull Market Alert explains, "The Market Vectors Coal ETF (NYSE: KOL) enables you to buy a basket of 39 coal-related companies from 12 different countries." Here's his overwiew of the exchange-traded fund.

"Despite its status as the most 'environmentally incorrect' source of energy, coal provides 25% of the world's energy and generates about half of the electricity in every state in the United States, except California.

"Coal plays a key role in the production of steel, with approximately 70% of the global steel production depending on coal as a source of energy. And the price of coal has been soaring to record levels.

"Atwood Oceanics Inc. (NYSE: ATW) is our bet on the exploding demand for offshore oil drilling rigs," says international investment expert Nick Vardy.

The editor of Global Bull Market Alert explains, "Although it's had a big run recently, the stock is as technically oversold as it was when global markets bottomed in mid-March." Here, he outlines why he believe the stock will perform strongly in the coming months.

"Atwood Oceanics Inc. engages in the offshore drilling of oil and gas wells worldwide. It operates eight offshore mobile drilling units located in six regions of the world, including offshore Southeast Asia, Africa, India, Australia, the Black Sea, and the Gulf of Mexico.

"Atwood is a leveraged play on the price of oil. Oil prices have now blown past the original estimates of major investment banks. Commodities guru Jim Rogers recently predicted that oil will soon hit $200.

"Amid record high oil prices and dwindling supplies on land, the Shells, Exxons and BPs of the world are having to venture into ever harsher and more remote environments offshore to replenish their oil reserves. That puts offshore oil drillers like Atwood Oceanics in the catbird seat.

Based in London, Nick Vardy is among the leading international stock experts. The editor of The Global Bull Market Alert has created a package of stocks called the "Ultimate Defensive Global Bull Market Alert" Portfolio -- using ETFs to go short on China and the British pound while simultaneously going long on agriculture and the yen.

"UltraShort FTSE/Xinhua China 25 ProShares (ASE: FXP) has been a hero during market weakness. While the market's current focus is on the exposure of Chinese banks to U.S. subprime loans, the real issue in Chinese banks is their own bad loans to state-owned enterprises. China has a long way to fall.

"Short the CurrencyShares British Pound Sterling Trust (NYSE: FXB). With the U.K.'s fundamentals perhaps weaker than the United States, the U.K. currency should continue to weaken over the coming months.

"PowerShares DB Agriculture (NYSE: DBA) invests in some of the most liquid and widely traded agricultural commodities, corn, wheat, soy beans and sugar.

"Buy the Currency Shares Japanese Yen Trust (NYSE: FXY). The yen zigs when the rest of the market zags. A position in the Yen won't knock your socks off in terms of performance. But it will hold up well in times of turmoil and appreciate steadily as the 'carry trade' unwinds.

"A word of warning: This is a 'defensive' global portfolio that will hold up the best during periods of negative market sentiment. But understand that this is also the part of the portfolio that will underperform -- perhaps significantly -- on any 'relief rally' in the markets."

Each day, Steven Halpern's TheStockAdvisors.com offers the latest market commentary and favorite investment ideas from the nation's leading financial newsletter advisors.

A trio of leading advisors are looking outside the US for opportnity in the telecom sector: Nick Vardy sees potential with Telefonica S.A. (NYSE: TEF), David Fried looks south of the border to Telefonos de Mexico (NYSE: TMX) and Dave Dyer recommends the more diversified Emerging Markets Telecommunications Fund (ASE: ETF).

In his Global Bull Market Alert, Nick Vardy explains, "Spanish telecom group Telefonica S.A. is like a corporate conquistador, exploiting its historical links to expand into Latin America. This new Spanish explorer is reaping rich profits for itself and its shareholders.

"Telefonica's global footprint extends across three continents and 23 countries with a total population of 670 million. This conquistador planted its first flag in Latin America 15 years ago and today is the leading telecom in Brazil, Argentina, Chile and Peru.

"For an organization that is already the fifth-biggest telecom company in the world with close to 207 million customers, Telefonica's profits are still expanding at a breathtaking rate.

"Just recently, Telefonica announced that its third-quarter net profit rose 39% year-on-year. Overall, net profit jumped to €4.02 billion from €2.9 billion a year earlier. Also important to us, Telefonica is a stock that has held up remarkably well despite the recent market jitters, recently hitting a record high. We recommend buying the shares at market."

This article is part of a 20 article special report on "Metals, miners and money".

Among resource plays, international investing expert Nick Vardy says, "Mechel Open Joint Stock Company (NYSE: MTL) is one of Russia's largest mining and metals companies a producing steel, as well as processed coal and metal products used in mining industries.

In his Global Bull Market Alert, the advisor explains, "Mechel's rise from relative obscurity has been rapid. Rising metals prices and industry consolidation have more than quadrupled Mechel's sales from a mere $1 billion in 2001 to $4.4 billion last year.

"In announcing its first half 2007 in October, Mechel confirmed that its breathtaking growth still is on track. Both business segments -- mining and steel -- demonstrated high operational results. Crude steel production was up 4% year-on-year, with rolled products up 11%. Coal output rose 10%, driven by a 29% rise in steam coal output. Nickel output also rose 22%.

"But it was the company's financial results that knocked analysts' socks off. Revenue rose a whopping 55% to $2.99 billion during the first six months of 2007, compared to the same period of 2006. Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 136% to $813.7 million.

"I predict that 2007 will end with a bang and not a whimper," says global expert Nick Vardy, who predicts a strong a strong fourth quarter global rally.

Meanwhile, in his industry-leading Global Bull Market Alert, he notes, "Canadian mining giant Cameco Corp. (NYSE: CCJ) combines the global commodity supercycle theme with the recent turnaround in the price of uranium."

Vardy explains, "As the world's largest uranium producer -- accounting for around 20% of global uranium production -- Cameco is the closest thing to a blue chip name in what has been one of the hottest sectors in the past few years."

Why? He states, "Blame the law of supply and demand." In 2006, he observes, the world's nuclear reactors used 173 million pounds of uranium. Yet uranium mines only supplied 103 million pounds. The gap, he contends, was met by dwindling U.S. and Russian government stockpiles of weapons-grade uranium from decommissioned nuclear weapons.

"And the supply and demand imbalance likely will get much worse," says Vardy. In the past 12 months, he notes, the number of proposed nuclear reactors has risen by 67% to 256 as governments across the globe turn to nuclear as a way to cut carbon emissions quickly and painlessly.

"One of the strongest investment themes is the global commodities supercycle," notes Nick Vardy. He explains, "Now is a good time to pick out potential winners such as Australian mining giant, BHP Billiton Ltd. (NYSE: BHP)." The

The editor of The Global Bull Market Alert says, "I expect BHP Billiton to perform particularly strongly as we move closer to the traditional fourth quarter rally."

For one thing, he notes, BHP's retiring CEO Chip Goodyear reassured investors that the recent financial market turbulence would not hurt BHP's growth -- and that commodity prices would remain strong for some time.

He suggests, "BHP recently had conducted a survey of its major customers around the world to see if their demand for commodities would be dented by the fallout from the U.S. subprime mortgage crisis. The results? The United States was slowing down, but in developing economies such as China and India it's 'essentially business as usual.'