ETFs To Watch February 10, 2010 (EWI, BAL, OIH, MXI)

Here is the ETF Professor's ETF Watch List for Wednesday February 10, 2010.

Watch the iShares S&P North American Technology-Semicondctors ETF (NYSE: IGW) as both a possible long and short trade. If volume picks up and the 20-day moving average is broken to the upside, go long. If resistance there holds, IGW is a short.

If more Greece bailout news emerges or does not emerge, the iShares MSCI Italy Index (NYSE: EWI) is in play from either side.

The Claymore/NYSE Arca Airline ETF (NYSE: FAA) was one of the top performing ETFs on Tuesday, gaining more than 6%.

Watch the iPath DJ-UBS Cotton TR Sub-Index ETN (NYSE: BAL) which has been a solid performer over the last several days.

Don't be fooled by the pop in Oil Services HOLDRs (AMEX: OIH). The chart still looks horrific.

The iShares MSCI EAFE Index (NYSE: EFA) remains in play.

Play BHP Billiton's (NYSE: BHP) earnings with the iShares S&P Global Materials ETF (NYSE: MXI).

The Market Vectors Brazil Small-Cap ETF (NYSE: BRF) was a good play for us on Tuesday, so let's watch it one more time.