The story
From the magazine Cashbox's practice, in the 1960s and 1970s, of putting a red bullet sign on the chart position of potential climbers. The page stated: "Red bullet indicates sharp upward move."
Etymology from Wiktionary, CC BY-SA 4.0.
with a bullet
Today it means: That has entered the charts in a high position, or has climbed rapidly in the charts, or is thought to have the potential for further rapid advancement. Full definition →