The ETF Professor has mentioned the Market Vectors Coal ETF (NYSE: KOL) as a bullish play several times recently, but there's another coal ETF that may be worth taking a look at.

PowerShares Global Coal Portfolio (Nasdaq: PKOL) is up about 45% over the past six months and offers a little bit more international exposure than KOL does. PKOL fund allocates 21% to China, 21% to Australia and 13% to Indonesia.

Like KOL, PKOL holds North American coal producers like Alpha Natural Resources (NYSE: ANR), Peabody Energy (NYSE: BTU) and Consol Energy (NYSE: CNX).

KOL gets most of the attention, but don't sleep on PKOL because the returns are quite similar to those offered by its more popular rival.

First Happy Thanksgiving! Be thankful for everything you have now and everything you want for the future. Amen

Second, this Friday is the USA, Canada, and Germany Unemployment Reports, along with Australia and European Union Central Bank Interest Rate decisions are coming in. Thanksgiving week historically has been strong. Even with the important data reports coming in this week, but with the shortened trading week, it could be somewhat relatively calm with big players starting the holiday early. The dollar is still the big issue right now. Forex traders might be watching the stock market, and stock traders might be watching the forex market for direction clues. The tide could possibly be turning here for a reversal, and possibly a major one at that for the dollar and stocks for the time being. I’m looking for a dollar rebound and stock selloff this month or next. Let’s watch and be ready to move if it does.

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The Market Vectors Coal ETF (NYSE: KOL), a favorite of the ETF Professor, may add a new holding if Rio Tinto's (NYSE: RTP) IPO of its U.S. coal business, Cloud Peak Energy, proves successful. Cloud Peak Energy is expected to begin trading on Friday on the NYSE under the ticker "CLD."

According to data from Energy Information Administration, Rio Tinto America is the second-largest coal producer in the U.S. behind Peabody Energy (NYSE: BTU). That means Cloud Peak's production may prove too big for KOL too ignore.

With the strength in the coal sector, KOL remains an ETF to watch and Cloud Peak could prove to be one of 2009's better IPOs. Don't be surprised if Cloud Peak makes its way into KOL sooner rather than later.