A Look Ahead: Next Week's ETFs to Watch

Seven days, seven straight losses for U.S. as investors have little to be thankful for this Thanksgiving. So bad have things gotten that even the holiday-shortened week brought little in the way of relief for wary investors. Europe remains the primary catalyst of evil behind the seemingly never ending string of daily declines and in that vein, Black Friday was certainly black as Standard & Poor's downgraded Belgium's credit rating one notch to AA. Moody's Investors Service chimed in by taking Hungary's credit rating down to junk status. These are interesting times and times in which Mr. Market might just be saying there won't be much holiday cheer. With that, let's have a look at some ETFs to watch in the week ahead. iShares MSCI Belgium Investable Market Index Fund

: We've already opined on the trials and

of EWK. Things don't look to be getting any better anytime soon for this embattled ETF. Since there are no options on EWK, it must be shorted directly to establish a bearish position. That's clearly the path of least resistance at the moment. ProShares UltraShort QQQ

: Even on Friday's shortened trading session, there was ample chatter about the decline of Apple

and about the fact that the stock is flirting with its 200-day line. It's unlikely the Nasdaq will bounce without the aid of Apple and that makes QID appealing. From a cost and risk standpoint, it makes more sense to be long QID than to be out there shorting Apple. ProShares UltraShort MSCI Brazil

: This may be a purely technical trade at this point, but it also bears noting there's really no reason to be long Brazil here either. BZQ has surged almost 20% in the past week, but even with that huge run, the ETF has little in the way of material resistance in front of it for another $5-$6. PowerShares India Portfolio

: India-specific ETFs were decent performers during Friday's half-day and that's no small feat given the blood bath endured by other emerging markets funds. To be clear, this is NOT an invitation to go out and devoted your entire account to India ETFs. The PowerShares India Portfolio could easily find its way to support at $16 next week. If it can hold that area, this ETF might be worth a small position. PowerShares DB Crude Oil Double Short ETN

: If DTO can manage a couple of closes above $45, a run to $50 could be in the cards. Hey, with all the problems from Europe and the emerging markets right now, it's hard to envision oil prices really putting in a sharp rally next week.