Mark,
I don't know if you have ever been to Ruidoso, but the Rio Ruidoso runs right through town. It has decent fishing for stockers most of the time, but I would check on the flows before counting on it to produce. The water may be down. If flows are decent and you want to get away from the crowd, you can buy a pass to enter the Apache reservation which is upstream and out of town. I hear that fishing for small brookies is not bad. Otherwise all through town there are a few well worn public access spots with lots of bait chunkers. Also, the Rio Ruidoso has very brushy banks, so for the most part short rods and short tight casts are the order of the day. As far where and what to fish, there are pools up and down the river and under cut banks to target. I don't believe there is any organized hatches, but I am not sure. You'll probably be ok going with terrestrials, caddis, griffiths gnats, and attractors. Maybe others will know more about this.
One alternative, if you want to spend the money, is driving to Elk NM and fishing the Penasco on the Mulcock Ranch. It's probably an hour and a half away. It is spring creek, pay to play private water with good bugs and some big fish. Very challenging requiring little tippets and flies, tight casts and good drifts but far more rewarding imo. You can call Charlie Mulcock at 505-687-3352. He and his wife are really good people and I recommend it highly. I fished it last summer, caught some good fish and saw some true hogs. He has a cabin you can stay in overnight if you choose.
Good luck and give a report.
DW