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On rest and recovery days it is important to avoid doing the worst thing you can do for your body... nothing. Examples of rest and recovery activities are walking, static stretch exercises (after a warm up and loosening up period), dynamic stretching, swimming, water running, and riding a bike.
A particular form of easy run is the recovery run, which follows a hard training session. Some elite athletes who run twice a day will follow a morning track session with an evening recovery run. For the rest of us, a recovery run is usually the day after a hard training session.