The election is over and no matter how you feel about Obama, he will be the next U.S. president. Some economists are projecting total government borrowing in excess of $1.5 trillion in the fiscal year ending next September. Such a sharp increase in new debt could push up interest rates and continue the downward pressure on the stock market. Even in a down market, there are always winners. Let's take a look at some of the possibilities:

Energy
There is a belief that the new administration will channel money to the energy sector, such as solar energy and hybrid cars, as a way to stimulate the economy. Some possible beneficiaries include:

• Suntech Power Holdings (STP)
• SunPower Corp (SPWRA)
• Energy Conversion Devices Inc. (ENER)

Defense
Against conventional wisdom, U.S. defense contractors tend to do well Democratic administrations. Winners would include:

• Lockheed Martin (LMT)
• Northrop Grumman (NOC)

Pharmaceuticals
With the credit crisis in the forefront, healthcare reform will likely be low on the priority list. That should provide stability for drug stocks and to investors seeking safety after a rough ride in the market. Stocks to consider:

• Abbott Laboratories (ABT)
• Eli Lilly and Co (LLY)
• Pfizer Inc (PFE)

Financials
Banks may be the big losers in an Obama administration. There could be pressure put on banks to help borrowers avoid foreclosure by renegotiating mortgages. Also there could be pressure to lower fees on credit cards. Some banks that will feel the pressure include:

• Bank of America Corp./Countrywide (BAC)
• J.P. Morgan Chase & Co. (JPM)

Times will certainty be different, but it is important to remember a sound dividend investing philosophy historically has withstood the tests of time through both democratic and republican administrations. Don't make the mistake of sitting on the sidelines.

Disclosure: Long LLY and PFE