In the past week or so, we've seen several strategists on Wall Street put out really bullish calls on the stock market, especially in the wake of the Federal Reserve's surprise decision last Wednesday to refrain from tapering back quantitative easing.

Deutsche Bank chief U.S. equity strategist David Bianco says the S&P 500 now has a "straight shot to 1800" without a 5% correction.

BMO chief investment strategist Brian Belski ratcheted up his year-end S&P 500 price target to 1800 from 1650, saying stocks could ride all the way to 1900 on continued easy money from the Fed.

ConvergEx Group chief market strategist Nick Colas argues that "the classic setup for a Q4 melt-up rally" is in place.

And Barry Knapp, one of the most bearish equity strategists on Wall Street in 2013, finally cranked up his year-end S&P 500 price target to 1800 from 1600, also on account of recent Fed developments.

Against this backdrop comes an interesting anecdote from Morgan Stanley's top economist Joachim Fels, who says that "if you happen to be a contrarian, you should probably sell stocks till your hands bleed, and then sell some more."

In his "Sunday Start" note to clients, Fels writes: