Once the Dow Jones industrial average hits 20,000, don't expect momentum to power it even higher, market strategist Paul Schatz told CNBC on Thursday.
In fact, it's "a rally you can sell," the president of Heritage Capital said in an interview with "Closing Bell."
Stocks ended lower on Thursday, with the Dow Jones industrial average down about 63 points at 19,891.
The market has rallied since President-elect Donald Trump's victory in November, with investors pinning their hopes on tax cuts, less regulation and a pro-growth environment.
However, it has been going sideways for a month, Schatz pointed out.
"That shows we've got underlying strength," he said. "The rally's been on less stocks participating the last couple of weeks. We need a little bit more consolidation, digestion, maybe into halfway through earnings season."
He's confident that if Trump "stops tweeting" and let's Congress take over, a substantial conversation will occur.
"Then we can hit 21,000, maybe early second quarter," Schatz predicted.
Sandy Villere, co-portfolio manager of the Villere Balanced Fund at Villere & Co., sees buying opportunities when the market goes down.
"It's going to be a great, pro-growth environment and probably will lead to higher interest rates, which could lead to a stronger dollar," he told "Closing Bell."
"I want to focus on the companies that I buy which are smaller and mid-cap companies. So that's what I'm doing — buying on the dips," he added.
Villere specifically likes 2U, a "disruptive online education company" and Taser, which he thinks is going to do quite well with its body camera business.
Stephanie Link, managing director and active equities portfolio manager at TIAA Global Asset Management, took advantage of the down day to buy some financials, like American Express, and energy stocks.
"You've got to use these dips to be buying or you're never going to be buying, I don't think, unless you want to chase," she said in an interview with "Closing Bell."
Disclosures: Villere owns 2U and Taser.