What I meant is you do not want to apply only
to stretch schools -
Also you have to remember the application fee costs - some schools will waive the fee and some will not - some cost $50 or more. If you apply to all the schools that are possible, you could end up paying thousands of dollars and also will have to fill out various applications/questions and essays and even if a school takes the common app many have their own questions or additional essays to answer on top of that. You could be spending a very large amount of time just doing all the applications.
Believe me - my younger daughter just went through it this year. Some of the reasons that she did not apply to some particular schools that she had some level of interest in - was because of the large application and questions. She did get into all the schools she applied to - so she ended up choosing a "best" fit school. In the end it was the combination of all things that she choose it.
It is much better to whittle down the schools to those you really do want to attend and make your essays and answers really personal to the school itself. The admissions people are savvy and can read through a generic answers/essay than ones that are really meant for that particular program or school.
My older daughter even though she got into that stretch school - ended up choosing one of the "best fit" schools. It is just important to choose a school that you like all around. I guess she made a good decision as she is graduating next month and loved her 4 years there.