I wouldn't bother shorting stocks nowadays. If you have money to burn though, you may consider going long on telecom. They've been one of the hardest hit the sectors in the past 6 months. Lucent for example went from 5+ six months, to 1.5 a month ago, and is now going upwards toward 2. The forecast on those isn't great and risk is substential, but if you buy it now, you can double and even triple your investement in 1-2 years.
Lucent 6-month Chart