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'Pricing in Perfection' Risk: Trader

Housing growth appeared positive and the market should continue to climb, but stocks are counting on the Federal Reserve to continue easing, Mike Murphy of Rosecliff Capital said Wednesday.

"My concern is that we're pricing into perfection," he said, adding that he expected the stock market to post gains based on Fed Chairman Ben Bernanke's announcement on monetary policy.

"The set up here is if Bernanke disappoints, we will roll over," Murphy added.

On "Fast Money," OptionMonster's Jon Najarian laid out a bullish view of the market.

"I think the way Europe reacted to Cyprus was one of the reasons people are hardened and buying," he said. "It wasn't just a pop on the opening. It was a pop, and we held the pop. And now we might build on it into the close."

The Dow Jones Industrial Average hit an all-time high of 14,545.21 intraday, just days after a proposed banking bailout of Cyprus was announced.

OptionMonster co-founder Pete Najarian said that housing improvement would trickle down into the financial world, with options trading looking toward 2014 and 2015.

"People are believers, and they think this is a bull market going higher," he said.

Trader disclosure: On March 20, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Enis Taner is long GS; Enis Taner is long SODA CALL FLY; Enis Taner is long FDX PUT FLY; Enis Taner is long HD PUT SPREAD; Enis Taner is long FXE PUTS; Mike Murphy is long AAPL; Mike Murphy is long BAC; Mike Murphy is long IR; Mike Murphy is long JCP; Mike Murphy is long TOL; (as of Friday 3/14) Jon Najarian is long JPM CALLS; Jon Najarian is long MGM CALLS; Jon Najarian is long FIG CALLS ; Jon Najarian is long KKR CALLS; Jon Najarian is long XLF CALLS; Jon Najarian is long STX CALLS; Jon Najarian is long WLL CALLS; (as of Monday 3/18) Pete Najarian is long AAPL ; Pete Najarian is long BAC CALLS; Pete Najarian is long JPM CALLS; Pete Najarian is long YHOO; Pete Najarian is long BBRY; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Pete Najarian is long COP CALLS; Pete Najarian is long MRO CALLS; Pete Najarian is long ABX CALLS; Pete Najarian is long CZR CALLS; Pete Najarian is long QQQ CALLS; Pete Najarian is long MTG CALLS; Pete Najarian is long EMC CALLS; Pete Najarian is long CROX.

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