. . means only the path at the current location (this will be the folder), so open decides that the right application to use is Finder. If you were to make open myTextFile.txt , which is at your current location in the terminal that opens, you decide to use a text editor. However, you can specify the application to open the file with the -a flag, so that your command looks like this: open -a Finder myTextFile.txt .
It is assumed that Faisal will also work, the -R flag is equivalent to using ⌘↩ (Return Command) in Spotlight.
this and some other useful open-shell shell tricks are described in this post: Shell tricks: OS X open command
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