Buy Tax-Selling Stocks for the New Year

It's the time of year when investors do their tax-selling, selling securities at a loss to offset taxable gains from other investments.

These sales must take place before Dec. 31, and they can cause the price of stocks to drop much lower than they would otherwise. The anticipated result for the investors doing the selling is a reduction in their tax bills, but for everyone else, tax-selling can create a bargain bin of stocks to pick up for the new year.

Stockpickr has reviewed the stocks on the New York Stock Exchange and compiled a list of those with the biggest drops for 2008. These stocks all have P/E ratios below 14 and PEG ratios below 1.

To read more, visit Stockpickr.com.