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As always, use the new 52 week low list as a starting point for research. The weekend allows some nice, quiet time to take a look through SEC filings and other research about some of these names. Plus, the markets being closed forces you to not act impulsively without understanding the company. Put in the time doing research.
A number of shippers made new lows, along with a few local banks. Typically there are one or more biotechs on the daily low list as well, since they are dependant on company-specific news and not overall market sentiment on any given day. Also, be aware of volume. Some of these stocks have liquidity issues and you should be aware of whether a market order is prudent.
I highlight 17 stocks hitting new 52 week lows for January 21, 2011. I used MarketWatch's screener and paraphrased the descriptions from Seeking Alpha's company profiles. Where appropriate, I've linked to a Seeking Alpha article discussing the stock.

Ticker
Name
Price
% Change
Volume
Market Cap
ACORAcorda Therapeutics23.97-13.87%8.5m 937m
BFSBBrooklyn Federal Bancorp0.94-4.09%196k 12m
CLNEClean Energy Fuels12.98-1.82%1.3m843m
FARMFarmer Brothers Co.12.83-5.03%45k207m
FROFronline Ltd.24.93-2.66%2.3m1.9b
FSBKFirst South Bancorp5.91-1.66%35k58m
GMRGeneral Maritime Corp.2.98-5.99%6.2m264m
GNKGenco Shipping & Trading13.29-2.85%1.6m472m
HCBKHudson City Bancorp11.25-1.32%16.9m5.6b
HPPHudson Pacific Properties14.62-2.08%141k325m
JNYThe Jones Group12.44-9.72%9.6m1.1b
MBLXMetabolix8.98-4.16%500k241m
MCOXMecox Lane6.14-5.68%283k352m
MFWM&F Worldwide21.44-2.06%68k415m
NATNordic American Tanker Shipping24.46-4.60%2.2m1.2b
TSTFTeamStaff0.41-16.80%6k2m
VOLVolt Information Sciences6.00-5.66%989k125m
































Acorda Therapeutics:
ACOR is a biotechnology company and develops therapies for multiple sclerosis, spinal cord injury, and other nervous system disorders. Hedge Fund Manager Roberto Mignone's Portfolio and New Stock Picks
Brooklyn Federal Bancorp: BFSB provides various banking products and services in Brooklyn, Nassau, and Suffolk, New York. Opportunities in Micro Cap Financials
Clean Energy Fuels: CLNE provides natural gas as an alternative fuel for vehicle fleets in the United States and Canada.
Farmer Brothers Company: FARM engages in the manufacture, wholesale, and distribution of coffee and non-coffee products in the United States.
Frontline Ltd.: FRO, through its subsidiaries, engages in the ownership and operation of oil tankers and oil/bulk/ore (OBO) carriers. The Start of a Bull Market in Tanker Rates
First South Bancorp: FSBK operates as the bank holding company for First South Bank that provides commercial banking products and services in North Carolina.
General Maritime Corporation: GMR provides international transportation services of seaborne crude oil and petroleum products.
Genco Shipping & Trading: GNK engages in the ocean transportation of drybulk cargoes through the ownership and operation of drybulk carrier vessels worldwide. Identifying the Market's Best Small Cap Bargains
Hudson City Bancorp: HCBK provides a range of retail banking services offering a range of deposit accounts, including passbook and statement savings accounts, interest-bearing transaction accounts, checking accounts, money market accounts, time deposits, and IRA accounts and qualified retirement plans. Dividend Stock Analysis: Hudson City Bancorp
Hudson Pacific Properties: HPP operates as an integrated real estate company focusing on the ownership, operation, and acquisition of office properties.
The Jones Group: JNY engages in the design, marketing, and wholesale of apparel, footwear, and accessories in the United States and Canada. Lower Margins Pose Threat to Jones Apparel Group
Metabolix: MBLX is a bioscience company, develops and commercializes alternatives to petrochemical-based plastics, chemicals, and energy.
Mecox Lane: MCOX engages in the design and sale of apparel, accessories, home, and healthcare products through its online platform and stores. 4 Lagging Chinese IPOs: Any Rebound Candidates?
M & F Worldwide: MFW provides check and check-related products, direct marketing, and customized business and home office products.
Nordic American Tanker Shipping: NAT is an international tanker company and owns and operates double hull crude oil tankers. The Start of a Bull Market in Tanker Rates
TeamStaff: TSTF provides staffing services to the United States Department of Veterans Affairs (NYSE:DVA) and the other U.S. governmental entities.
Volt Information Sciences: VOL provides staffing services, and telecommunications and information solutions primarily in the United States and Europe.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
Source: Weekend Research: 17 Stocks Hitting New Lows on January 21, 2011