My sixth theme is the return of China. You saw this come up literally right at the end of 2012, when Cummins ( CMI) began coming back and Caterpillar ( CAT) put in a bottom and Emerson ( EMR) started to rally. Joy Global ( JOY) is the one to watch here, as electric use is accelerating in China -- which means more coal use, which means more coal mining, which means better orders for this very inexpensive stock. The best way to play China, alas, is China, with the iShares FTSE/Xinhua China 25 Index ( FXI). The ETF comprises a very big position for my charitable trust at Action Alerts PLUS.