Meet the New Red Hot Index: TheStreet.com New Tech 30

With the new year, we're rechristening the Red Hot Index and adding 10 more stocks. Check them out.
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A new year, a new index.

We know you've come to rely on

TheStreet.com's

Red Hot Index

for insight into the hopping part of the stock market. With the new year, we've decided to reconfigure the index, adding 10 new names and rechristening the index

TheStreet.com New Tech 30

.

During the last month we held a poll of readers to determine the additions and the new name for the index. Michael Scherago wins the prize for choosing the new name, and a high-quality, all-cotton

TheStreet.com

T-shirt is on its way!

The new index follows the same rules as the previous configuration of the Red Hots: It's weighted by market cap and aimed at telling readers how the most scorching part of the market is performing. The 10 new names are:

CMGI

(CMGI)

,

Commerce One

(CMRC)

,

BEA Systems

,

RF Micro Devices

(RFMD)

,

Broadvision

(BVSN) - Get Report

,

Network Appliance

(NTAP) - Get Report

,

Liberate Technologies

(LBRT) - Get Report

,

Akamai Technologies

(AKAM) - Get Report

,

i2 Technologies

(ITWO)

and

FreeMarkets

(FMKT)

.

As part of the addition, we've recalculated the index at a level of 617.90 at the close of Dec. 31; that's a change from the old Red Hot Index's 446.73.

And, as with the original 20 components, we have active

discussion boards available for the new members of TheStreet.com New Tech 30.

Dave Kansas is editor-in-chief of TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, though he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. He welcomes your feedback at

dkansas@thestreet.com.