Well, here's another "strategist" taking Dell up 50 more points. From Street.com freebie stuff:
A explosion by blue-chip is exactly what worries Scott Bleier, chief investment strategist at Prime Charter, who predicts "the market is about to embark on the most narrow phase we have seen. People are throwing their hands up and saying, 'Nothing is working except Home Depot [HD:NYSE], General Electric [GE:NYSE], big-cap drug stocks and Dell [DELL:Nasdaq]."
Bleier suggested the Russell 2000 "looks like a big give-up coming on," suggesting a downside target of 375 for the small-cap proxy. "Very quietly a lot of towels are getting thrown in," he said. "Money is getting poured into defensive issues like drug, utilities and Dell, which is the only name that's executing in technology." Dell climbed an additional 3.7% today, and the strategist suggested it could rise another 50 points.
"I think everyone is going to throw their hands up and buy Dell," he said. "When markets are narrow and get more narrow, it never ends well."
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