I'm too late for the chucks_angels Fearless Five contest, but I thought I'd throw in my picks here in writing.
I think I'll just pick some of my low P/E stocks and hope for a rebound this year (or one of these years). So let me take a look..
CECO. Forward P/E 7.4. Current price 21.17. Battered education firm showing recent signs of life. Actually I'd like to buy it under 18.
WFC. Forward P/E 11.4. Current price 31.99. It's well off the bottom, but still looks fairly cheap. Could gain further if they raise the dividend.
HPQ. Forward P/E 8.7. Current price 45.59. Has already recovered about half of last year's peak-to-trough drop. Wouldn't be surprised if it gets back to the 53 peak this year.
C. Forward P/E 11.1. Current price 5.07. Similar story to WFC, but more volatile. Actually already near the 52-week high.
ALL. Forward P/E 8.0. Current price 30.62. Has already doubled from the 2009 low, but the insurers still have a ways to go before hitting the pre-dive levels.
OK, check back in a year..