ETFs To Watch On November 5, 2009 (XRT, XLF, SLX, FXY)

Here's the ETF Professor's ETF Watchlist for Thursday November 5, 2009.

If Qualcomm's earnings fail to lift the stock higher, and they very well may fail in the endeavor, take a look at the iShares Dow Jones US Technology ETF (NYSE: IYW).

Cigna (NYSE: CI) reports earnings before the bell, so keep an eye on the iShares Dow Jones US Healthcare Provider (NYSE: IHF). The bearish play here is the UltraShort Health Care ProShares (NYSE: RXD). Both are thinly traded.

The Financial Select Sector SPDRS ETF (NYSE: XLF) and the Regional Bank HOLDRS ETF (NYSE: RKH) both erased most of Tuesday's gains during Wednesday's session.

U.S. Steel (NYSE: X) has been getting tarred and feathered over the past month, but there was some unusual options trade on Wednesday and it was heavy put selling, so watch the Market Vectors Steel ETF (NYSE: SLX).

With CVS Caremark (NYSE: CVS) reporting earnings and plenty of retail sales data coming out, the ETF Professor recommends both the Retail HOLDRs (NYSE: RTH) and the SPDR S&P Retail ETF (NYSE: XRT). Inverse play: ProShares UltraShort Consumer Goods (NYSE: SZK), another thinly traded issue.

Asian stocks were down, so let's watch the CurrencyShares Japanese Yen Trust (NYSE: FXY) and its inverse cousin, the UltraShort Yen ProShares (NYSE: YCS).