Before the end of the year, if you haven't already done so, you should try to offset any capital gains (or other taxable income) by selling stocks at a loss. You are allowed up to a $3000 offset.
Three stocks that I would sell (if I held them) would be as follows. I don't see any light at the end of the tunnel for these companies, and I suspect holding them through 2008 may not make a difference:
#3: China Water & Drinks (CWDK.OB): The company's massive dilution this year is still working itself out, with current share price close to its 52-week low. Despite great fundamentals, I don't see a recovery anytime soon.
#2: Benda Pharmaceutical [BPMA.OB]: Without its headlines-grabbing subsidiary Sibiono, this is a fourth-rate chemicals company, with a massive overhang that is going to be there for a long while.
#1: Eternal Technologies [ETLT.OB]: Clueless management coupled with egregious investor relations add up to a dog of a company. Sure its PE is very low, but for good reasons. No sane investor would touch this.
My Position: None.