ETFs To Watch May 11, 2010 (OIH, BZQ, PSQ, MOO)

Here is the ETF Professor's ETF Watch List for Tuesday May 11, 2010. With BP BP, Transocean RIG and other oil companies with a stake in the Gulf spill headed to Capitol Hill today, keep an eye on the Oil Services HOLDRs ETF OIH. Watch the iShares Spain Index EWP for a pullback after the ETF gained almost 15% on Monday. Sure the Market Vectors Agribusiness ETF MOO took place in Monday's rally, but not in a big way. This ETF has been weak for a while. Priceline's PCLN earnings outlook should hamper the Nasdaq so keep an eye on the ProShares Short QQQ ETF PSQ. Small-caps really look due for a pullback after Monday's boffo gains, so play that trend with the ProShares Short Russell2000 ETF RWM. Play a pullback in European stocks with the ProShares UltraShort MSCI Europe ETF EPV. Emerging markets should probably take a breather on Tuesday, making the ProShares UltraShort MSCI Emerging Markets ETF EEV an ETF to watch. And on that note, try the ProShares UltraShort MSCI Brazil ETF BZQ for a pullback in Brazilian stocks.