If the hopes for an end to the recession fade during the summer, it is possible that oil will trade down. If the current optimism for an end to the recession continues, oil could continue to trend higher. So, to consider this trade, you will have to watch economic news and sentiment as well as look for technical signals in the oil charts.

Possible ETFs for shorting oil and oil related industries are the UltraShort Oil and Gas ProShares ( DUG), Short Oil and Gas ProShares ( DDG) and DNO International, a short companion to the U.S. Oil Fund, which has filed with the SEC but has not yet opened for trading. Of course, you could sell USO short or buy put options on USO.

6. Buy Health Care Stocks

Health care stocks have been beaten down and have not rallied nearly as much as most other sectors since March 9. The primary reason for this is probably uncertainty about what the future holds for health care policy coming from Washington. The fear factor centers on what damage could be done to future prospects of pharmaceuticals and other health sector businesses if the stated policy objective of "bringing down health care costs" results in curtailing profits and future growth.

What is being overlooked is that health care is and will continue to be a growing business. If policy objectives are met and tens of millions more people obtain health care coverage, these companies will simply add to the volume of products and services that are already destined to grow in an increasingly aging population.

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