NEW YORK (TheStreet) -- The post-election rally that began the day after Donald Trump was elected president on November 8 doesn't seem to be stopping anytime soon, as investor excitement surrounds his proposed tax rate cuts and new infrastructure spend plans, Virtu Financial advisor Matt Cheslock said on CNBC's "Closing Bell" on Friday afternoon.
Janney Montgomery Scott Chief Investment Strategist Mark Luschini and Surevest Wealth Management CEO Robert Luna also joined the show to give advise to traders on how to benefit from the Trump rally.
Investors should be patient with the banks and some of the metal and mining companies, Luschini said.
"Both of these sub-sectors of the market are up 15% to 20% post election and I think they've gotten way ahead of themselves," he claimed. "They're trading at some two standard deviations above their price trends and I think some backing and filling to the tune of 5% to 10% would be in order before I would be a willing and able buyer."
With the talk of bank de-regulation under a Trump presidency plus the expected interest rate hike in December, the sector is finally going to start seeing some tailwinds, Luna said in agreement. JPMorgan (JPM) is a favorite of his because it's one of the few companies trading above book.
If you own U.S. Steel (X), then you should "take the money and run," he added. Commodity stocks are "trades, not long-term investments" and steel has a "lot of issues" such as oversupply.
Polaris (POLARIS), on the other hand, should stand to benefit from a Trump administration as its customer base is in middle America where he is talking about making a push to provide infrastructure jobs, Luna noted.