ETFs To Watch On November 2, 2009

Here is the ETF Professor's ETF Watchlist for Monday November 2, 2009.

The Russell 2000 is seeing some significant pressure and looking bearish, so let's watch the ProShares UltraShort Russell 2000 (NYSE: IWM).

Both equity-based Brazil ETFs got whacked on Friday. The iShares MSCI Brazil Index Fund ETF (NYSE: EWZ) and the Market Vectors Brazil Small Cap ETF (NYSE: BRF) are both worth watching on Monday.

Here's one for all of Latin America: The iShares S&P Latin America 40 Index (NYSE: ILF) that could see some action on Monday.

On the basis of a flight to quality, watch the Vanguard Dividend Appreciation ETF (NYSE: VIG) and the Utilities Select SPDR (NYSE: XLU).

The Japanese yen appears to be mustering some strength, so the CurrencyShares Japanese Yen Trust (NYSE: FXY) could be in play.

Let's make our oil plays Oct 30: 13.60 0.00 (0.00%) UltraShort Oil & Gas ProShares (NYSE: DUG) from the bearish side and Ultra Oil & Gas ProShares (NYSE: DIG) and the Oil Services HOLDRs (AMEX: OIH) from the bullish side.

The ETF Professor noted a couple of bullish recommendations on the iShares MSCI Sweden Index (NYSE: EWO) over the weekend, but be warned the volume isn't great.

Materials and metals plays: ProShares UltraShort Basic Materials ETF (NYSE: SMN), bearish obviously, and the PowerShares DB Base Metals ETF (NYSE: DBB).