ETFs To Watch On November 4, 2009

Here is the ETF Professor's ETF Watchlist for Wednesday November 4, 2009.

Semiconductor issues were done in by a downgrade from Morgan Stanley on Tuesday. The Semiconductor HOLDRs ETF (NYSE: SMH) looks bearish to be kind and the ProShares Ultra Semiconductor ETF (NYSE: USD) was down as much as 3%. The inverse play: The UltraShort Semiconductor ProShares (NYSE: SSG).

The ETF Professor is curious as to why with all the M&A news out in the past two days the SPDR KBW Capital Markets (NYSE: KCE) is down more 4% in the past week.

Staying with financials, the Direxion Daily Financial Bear 3X Shares (NYSE: FAZ) has been anything but bearish over the past week.

Checkout the Market Vectors Russia ETF (NYSE: RSX), especially if emerging markets are under pressure tomorrow. RSX looks tired and ready for a decline after more than doubling year-to-date.

Here's a resources/commodities/energy ETF that you don't hear much about, probably because it's thinly traded, the Market Vectors RVE Hard Assets Producers (NYSE: HAP).

Hey did you notice copper prices were up on Tuesday? The ETF Professor did and if you're bored of trading Freeport McMoRan (NYSE: FCX), try the iPath DJ AIG Copper TR Sub-Index ETN (NYSE: JJC).

Speaking of commodity plays, watch the U.S. Oil Fund (NYSE: USO) to see if oil prices continue to firm up.

The Professor cannot ignore precious metals' performance on Tuesday and that means the iShares Silver Trust ETF (NYSE: SLV), SPDR Gold Shares (NYSE: GLD) and the PowerShares DB Base Metals (NYSE: DBB) will all be in play on Wednesday.

Here's one last option that is more a result of the ETF Professor's curiosity than anything else: The iShares Dow Jones US Medical Devices ETF (NYSE: IHI) is down about 3% in the past month, but most of that decline has taken place in the past week. IHI is thinly traded so there may not be much to watch here, but there should be at least one good trade in it.