Some believe health care is the Holy Grail for investors in this horrible market, but I'm not so convinced.

When everyone jumps on a bandwagon, I usually like to jump off. It seems like everyone is preaching the merits of owning health care stocks. And when I say everyone, I mean everyone. Even the barber is touting this sector as a place to be during this recession and beyond. We shall see about that.

Instead of focusing on the space, how about looking at a specific name?

In a recession, most professionals suggest that investors take a defensive posture.

That theory states that buying stocks with great balance sheets and stable cash flow is a way to withstand the downdraft of a bear market. If you own stocks of companies with products that consumers have to buy, you can expect to beat the market performance-wise.

Again, this bear market has been different in many ways. Even the most defensive stocks are losing value in a big way. None of it makes sense.

Apple (NASDAQ: AAPL) is an absolute must-own stock, recession or not. The company is growing its business at a time when others are retrenching. It's the best of the best, and there is more growth to come.

Apple continues to see penetration in the personal computer market as its products are more desirable to former PC users. Its innovations with iTunes and the iPhone have changed markets entirely.

Oil prices have dropped like a rock, and Americans are driving more as a result. So much for $4 gasoline changing the world. The green wave has run into a brick wall of lower crude prices.

In 2008, oil refiners like Tesoro Corp. (NYSE: TSO) had trouble making money due to intense volatility of prices. This year, it's a different story. Refiners make money by buying crude, processing and then selling gasoline and other by-products.

One group of stocks to own during a recession is the education space, and my favorite name is ITT Educational Services (NYSE: ESI).

With unemployment rising, workers having difficulty finding jobs turn to education as a way to improve prospects.

With the growth of the Internet, the educational space has changed over the years. Brick-and-mortar schools have fallen behind the online degree providers. With a cost-effective and flexible program, online schools have been experiencing solid growth during this recession.

Despite the recent rally, this has been the most difficult period for investors since the Great Depression, and many trying to time a bottom in this market have been burned.

And the reality is that we are still not out of the woods. So is it time to give up?

Not at all!

There are companies operating in this environment that are actually growing their business despite the recession. And these stocks should hold their own in this bear market, even if we retest the recent lows.