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.