ETFs To Watch July 1, 2011 (FXA, EPI, DIG, SMN)

Here is the ETF Professor's ETF Watch List for Friday July 1, 2011. With materials looking poised for a pullback, trade the ProShares UltraShort Basic Materials

, but also keep an eye on the Market Vectors Rare Earths/Strategic Metals ETF

from the long side. The ProShares Ultra Oil & Gas

is looking strong. The iPath DJ-UBS Cotton TR Sub-Index ETN

has been in a tailspin lately. The iShares MSCI Australia Index Fund

looks like a strong country-specific play. Emerging markets plays of the day: Global X FTSE ASEAN 40 ETF

, ProShares UltraShort Brazil

and the WisdomTree India Earnings ETF

. Forex play of the day: CurrencyShares Australian Dollar Trust

. Bond play of the day: ProShares UltraShort 20+ Year Treasury

.