Buying naked puts. It is like shorting but very leveraged and must be timed.
Figure out from fundamental what you think is a decent value for the stocks in question, then write puts for that strike price.
I mostly play long cycles in the equity market instead of trading. When I do trade equities, I play one or two stocks that I know their behavior intimately. My very active trading is mostly in futures and currencies.
Having said all that, I'm an indexer at heart, and working for Bloomberg I'm not even allowed to trade the more interesting stuff.