There has been a lot of value lately (although moreso in the past six to eight months).
I love looking for large companies trading at a discount.
Some notables include:

-- Encana (T.ECA), which I am invested in, and they've taken a beating this year.
-- Manulife Financial (T.MFC), which has had a horrible year, but should rebound nicely.
-- Imperial Energy (T.IMO), which has been a laggard this year- along with other energy stocks.
-- Husky Energy (T.HSE), which I am invested in and have new motivated management at the helm.
-- Royal Bank (T.RY), which has been the worst performing bank this year, but weathered the recession well.

The Energy sector, in general, is a great value play right now. And the Big 5 Banks are all decent picks, but Royal (worst performing) and Bank of Montreal (lowest PE) are my favourite choices right now.