This Could Trigger a Pullback: Stoltzfus

Stocks are headed higher beyond an all-time high in the Dow Jones Industrial Average, although investors should expect "some kind of trim," Oppenheimer CIO John Stoltzfus said Tuesday.

"I think we have a good opportunity to rise a bit higher here on the back of the momentum that the market has behind it, and then for the market to consider how far it has come and likely will get some kind of a trim at least," he said. "I won't say we're going to get a very deep pullback."

On "Fast Money," Stoltzfus invoked a historic perspective.

"It's rare to see a first quarter of the year produce the results that we have seen among the equity indexes, even with all that is positive for equities right now," he said.

A few headwinds, however, could derail the stock market from its bullish track, Stoltzfus added.

"I think what would trigger a pullback is some kind of news out of Europe that a hurdle looks a bit steeper than expected, some kind of reversal," he said.

"We saw a beginning of the concern just last week, related to the Italian elections. It could also be a question of how China is going to manage growth without continuing to inflate that bubble that they have in housing and construction. It could also be something out of Washington where it just looks like the Washingtonians are not going to manage CR or the debt ceiling in proper fashion. Or that they're not going to be willing to revisit sequestration in time to keep it from being too broadly focused.

Stoltzfus, whose top sectors include industrials, materials, financials and energy, holds a year-end target of 1,585 for the S&P 500.

Trader disclosure: On March 5, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Joe Terranova is long VRTS; Joe Terranova is long SJM; Joe Terranova is long MJN; Joe Terranova is long AXP; Joe Terranova is long GPS; Joe Terranova is long KORS; Joe Terranova is long GS; Joe Terranova is long SWN; Mike Murphy is long GS; Mike Murphy is long F; Stephen Weiss is long SPY 147 APR PUTS; Stephen Weiss is long BAC; Stephen Weiss is long C; Stephen Weiss is long QCOM; Stephen Weiss is long M; Stephen Weiss is short JCP; Jon Najarian is long AAPL; Jon Najarian is long JPM; Jon Najarian is long WFC; Jon Najarian is long CSCO; Jon Najarian is long QCOM; Jon Najarian is long NFLX; Jon Najarian is long RDN; Jon Najarian is long AXP; Jon Najarian is long AMTD; Jon Najarian is long YELP; Jon Najarian is long SWN; Dan Nathan is short SPY; Dan Nathan is short QQQ; Dan Nathan is long AMZN APR 240/200/160 PUT FLY;

For Mark Mahaney
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