Few more low P/E stocks

I have been following HP (ticker HPQ), for the last few months. It is trading at $22 with a P/E of 8.6 and FPE of just 5!! It dropped to this range between $22-$24 in Aug, 2011. Its profits down by about 30% in the last year. But I would like to buy it at this level. Seems too cheap to ignore, pluls they are still paying 2.4% dividend.
Update on other fallen low P/E stocks. DECK dipped even more since last post. It is now at $58, with a P/E of 12 and FPE of 10. I guess the extent of the problem is still unknown in this one. I am no retail expert, but reading few articles online, looks like this might come back up next year.And not lose the way like GMCR or RIMM.
Another stock that took a beating recently, is JPM. It is trading at $33 with P/E of 7 and FPE of 6!! Still paying out 3.5% dividend.
I am leaning towards putting little bit of money in all 3 and wait for an year. Ofcourse, I should always hold on to little bit of AAPL. Trading at $560 with PE of 13.7 and FPE of just 10. Ok, then let us make it 4 stocks and wait to see how this does in the next 12 months.
Out of MRVL and CY. Even though they look cheap (MRVL at P/B of 1.5 and CY with FPE of 10), I think there are better bets outside.