ETFs To Watch July 1, 2011 (FXA, EPI, DIG, SMN)

Here is the ETF Professor's ETF Watch List for Friday July 1, 2011. With materials looking poised for a pullback, trade the ProShares UltraShort Basic Materials SMN, but also keep an eye on the Market Vectors Rare Earths/Strategic Metals ETF REMX from the long side. The ProShares Ultra Oil & Gas DIG is looking strong. The iPath DJ-UBS Cotton TR Sub-Index ETN BAL has been in a tailspin lately. The iShares MSCI Australia Index Fund EWA looks like a strong country-specific play. Emerging markets plays of the day: Global X FTSE ASEAN 40 ETF ASEA, ProShares UltraShort Brazil BZQ and the WisdomTree India Earnings ETF EPI. Forex play of the day: CurrencyShares Australian Dollar Trust FXA. Bond play of the day: ProShares UltraShort 20+ Year Treasury TBT.