T
ATT has seen a big retreat of over 10% from it's highs.  It trades at a great multiple and has an excellent yield of over 5%.  I like the telecoms a lot.  I hold VZ as well.  For my money, wireless is the only way forward and these companies are positioned to benefit from expansion in the wireless world.

I have bought some this morning in the low 33's.

JTP
I also am buying some more preferreds through JTP.  I like this play.  The fund trades at a sizeable discount of 12% and yields around 8%.  I don't know if the market will love these again, but at least it pays a good yield and I think that yield is safe.