Here is the ETF Professor's ETF Watch List for Thursday September 27, 2012.

The Direxion Daily Small Cap Bear 3X Shares (TZA) will be in play.

The ProShares Short MSCI EAFE (EFZ) looks poised for more upside.

Keep an eye on the SPDR S&P Oil & Gas Exploration & Production ETF (XOP).

Emerging markets plays of the day: WisdomTree India Earnings ETF (EPI), Market Vectors Brazil Small-Cap ETF (BRF) and the EGShares Emerging Markets Consumer ETF (ECON).

Forex play of the day: ProShares UltraShort Euro (UUP).

Bond play of the day: PIMCO Total Return ETF (BOND).

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