Not a Good Day to go to the Market  

Yesterday morning, the Dow fell 1,089 points within the opening minutes of trading, and while it climbed up a little in the early morning. It closed down 588.47 points to 15,871.28.  Kevin Smithen of Macquarie Securities provided insight on the tower stocks. If the market enters into an extensive correction period, “Our tower and yield names such as [Crown Castle, American Tower, AT&T, CenturyLink and Frontier Communications] would be our top picks for this kind of environment. We see less than 10% downside on these names unless we were to see a ‘08-type credit crisis. In our view, these boring, defensive names with the potential for near-term upwards estimate revisions could continue to outperform.” The firm also continues to like Sprint as a self-help turnaround story.