While some may be concerned the market is moving too high too fast, veteran strategist Jeff Saut told CNBC on Thursday he would still buy any dips, at least over the next month or so.
"My timing model says this market grinds higher into the end of January, beginning of February," the chief investment strategist for Raymond James said in an interview with "Closing Bell."
U.S. stocks closed at record levels again on Thursday, continuing the rally that began after President-elect Donald Trump's victory on Nov. 8.
Saut thinks investors should look at small caps, financials, industrials and tech. He doesn't like utilities and staples.
"Value has outperformed growth since the election noticeably," he said, noting that small- and mid-cap stocks have been "on fire."
Tom McClellan, editor of The McClellan Market Report, agrees with Saut's timing. He told "Closing Bell" he wouldn't be surprised if people start to sell after Trump is sworn into office at the end of January.
"It's typical when you get a new president, especially from a new party, that all the hopes of everyone are hung on the guy and he can't possibly live up to that," he said. "People get disappointed."
That said, he's positive on the overall market for 2017, which is good for long-term investors and means there will be buying opportunities for traders.
"Generally speaking 2017 should be a good year, because there's just gobs of liquidity trying to get through the door and into the stock market," he said.
However, while there is cause for optimism that there will be less regulation and lower taxes, valuations are getting high, Destination Wealth Management CEO Michael Yoshikami pointed out.
"I think you've got to be cautious here. You've got to take some profits, particularly take profits given the strong rally we've had in cyclicals," he said.
Instead, he would rotate into beaten-down names.