Here is the ETF Professor's ETF Watch for Monday March 5, 2012. The iShares Gold Trust IAU remains one to watch. The ProShares UltraShort Russell2000 TWM will be in play. The Market Vectors Steel ETF SLX keeps on consolidating and could be poised to breakout or breakdown. Emerging markets plays of the day: Market Vectors Russia ETF RSX, iShares MSCI Philippines Invstable Market Index Fund EPHE and the Market Vectors Egypt ETF EGPT. Forex play of the day: PowerShares DB US Dollar Index Bullish UUP. Bond play: WisdomTree Emerging Markets Local Debt ETF ELD.