i think people will be trying to combat the onslaught of oil and natural gas...they should drop some, stabalize at the worst. it has gone up too much too fast without a significant change in supply/demand scenario.
i think domestics are going to bear the brunt of the beginnings of a recession due to housing, inverted yild curve, and a halt in interest rates, signifying that the fed doe not want to slow the economy any more.
The best best for me is emerging markets. they will benefit with lower prices and wages vs. the USA. they may also benefit with a weakening dollar if a recession sets in.