Dell (Nasdaq: DELL) has had as rough a go at it as any stock in the market over the last few years.

The stock lost over 50% of its value since topping out in 2005, as PC sales stagnated, and the company's growth rate began to decline.

But, if this is a value market, you've got to take Dell seriously. The stock is trading at 15.27 times earnings, and delivering nearly a 79% return on equity, suggesting that management is starting to click.

More important is the fact that value managers are starting to focus on old fashioned technology companies, as prices have dropped significantly in the sector, while value has been increasing and demand for products is starting to rise.

The Hewlett Packard deal with EDS also suggests that the potential for M & A in the sector is starting to heat up. Whether DELL is a target or not remains to be seen. But, that it's a value worth looking at is not a debatable point, in our opinion.

Yet, the stock, although forming a base, is still not showing signs of big momentum, beyond the start of an accelerating trend to the up side. But a move above 22 could signal that more aggressive buying is on the way.

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Doctor Joe Duarte's Market I.Q., offers subscribers a unique blend of intelligence, market commentary and trading strategy. Duarte's daily articles, and news summaries offer recommendations and analysis for ETFs, and individual stocks in the technology, health and biotechnology, and energy sectors. Doctor Duarte is a writer, and an emerging futurist, with a diverse background, and a growing audience. His combined expertise in health care, energy, and the effects of politics and global intelligence on the financial markets offer a unique blend of insight and information to thousands of active investors and political and intelligence aficionados around the world on a daily basis.

He is the author of four books: "Futures And Options For Dummies," "Successful Energy Sector Investing," "Successful Biotech Investing" and co-author of "After-Hours Trading Made Easy."

In early 2001 Dr. Duarte in "Successful Energy Sector Investing," correctly predicted that Venezuela's political problems could lead to an energy crisis in the United States.

In 2003, also Dr. Duarte was among the first to widely publicize the long-term friendship between French President Jacques Chirac and Saddam Hussein.

He has also appeared as a weekly guest on Market Mavens Radio, has logged appearances on KNX radio in Los Angeles, Financial Sense.com radio, and Wall Street Radio.

One of CNBC's original Market Mavens, Dr. Duarte has been writing about the financial markets since 1990.

His articles and commentary have been featured on CBS Marketwatch, Barron's, Smart Money, Medical Economics, and in Technical Analysis of Stocks and Commodities magazines.

In 2003, Doctor Duarte received second place, in the professional section, of the Medical Economics Investment Challenge with a 12-month return of 42%.