Maybe the metals. Everything else looks fairly solid. Banks and techs have had big rallys so they may pull back a little. Even though stocks are at or near their highs I wouldn't look for a sustained pull back just yet. There is no where to put money and large cap stalwarts still offer 3%+ in dividends. I could see another 10% up from here easily.
Maybe a short on Emerging Markets? The shock waves of the recession are starting to hit India and China. I'd look at EUM, and EFZ but both have very small amount of liquidity, volume under 20k daily.
I took a stab today at YANG, a triple levered short China ETF. Bought in at around 14. We have a few Chinese numbers to digest on Thursday and I'm hoping they are less than impressive. I'm definitely trying to catch a falling knife so make sure you know what you're doing! There's also the possibility of unannounced stimulus from Beijing which would do some damage.
I also agree with the above 2 posters. You can get short a high beta metal company like TCK or maybe VALE or emerging markets ETFs.
I would stay away from FAS and FAZ because America seems to be stabilizing somewhat even though our rally starting from last Friday from the employment numbers seems a little outdone.
If you want something more exotic, I am thinking about adding some REIT space to my portfolio. My theory is that people have been using REITs as short term safe havens to weather these past few choppy months. People see a rally so they take their money out (plus bad earnings from NLY and AGNC, and an AGNC flash crash this morning) and dump into riskier assets...so I think this sector is oversold. If you think we head down again, people will start to chase yield and the REIT sector is the first place people look.