Stocks opened the new week lower, and continued to slide. That's the bad news. What could the good news be?
A down market is where values are created, and Fifth Third's Mary Jane Matts and Mark Travis of Intrepid Capital Funds say they have pinpointed some good targets for the savvy investor.
(Oil, Gold, Chemicals: See Pt. 2 for Travis' Picks)
Topping Matts' list is Altria .
"Look at where the stock is trading," she told CNBC. "You've got pretty good growth prospects long-term, and it's a pretty defensive holding."
She also likes Reinsurance Group of America .
"They're a primary beneficiary of the primary life insurers, who need to conserve capital," she explained. "There's been a lot of consolidation already among the reinsurance players, so RGA's a place to hide within financials right now."
Her most controversial pick is Dow Chemical .
"They're trying to back out of their deal to buy Rohm & Haas ," she said. "The stock kind of reflects a worst-case scenario, that they're going to be forced to go through with this."
The Dow/Rohm case goes to court soon.
Disclosure information for Mary Jane Matts and Mark Travis was not immediately available.