Kethu is called moksha karaka, or indicator of enlightenment. And indeed it does give very fine spiritual tendencies, especially qualities of asceticism and non-attachment. It is therefore rather common to find a prominently positioned Kethu in the horoscope of a dedicated spiritual seeker.
Also, in a similar vein, Kethu is known as jñana karaka. Jñana is a Sanskrit term meaning knowledge, wisdom, or discrimination which is considered essential to the path to enlightenment. Therefore, along with the spiritual tendencies created, this planet confers great discriminative powers, even to the extent of psychic ability.
Kethu can produce intense, compulsive and unconscious behavior. Rahu and Kethu are two malefic influences which are not in fact planets but calculated points in the sky. Because they generate recognized effects in the horoscope they are called "shadowy planets" by the ancient sages.
However, the kinds of effects Rahu and Kethu may cause depend even more than with other planets, on the other astrological significances involved. For although Rahu and Kethu are considered planets by the ancients and give relative predictable results, they behave differently than the other heavenly bodies.
Because they are elemental and instinctive forces, they are more like masses of energy than directed forces. Nor do they have the ability to cast aspects as the other planets do... Suffice it to say that the nodes are generally better placed in houses which can utilize malefic planets (the 3rd, 6th, 10th and 11th - upachaya bhavas), and that more havoc is created if Rahu or Kethu occupy houses of enemies, or if they are aspected by malefics.