NEW YORK (TheStreet) -- The Dow Jones Industrial Average, Nasdaq and S&P 500 all hit record highs in November after the election of Donald Trump as U.S. president, but the rally isn't over yet, said Boston Private Wealth's Robert Pavlik on CNBC's "Power Lunch" on Thursday.
"We're in a bull market," Pavlik declared.
The economy is growing and Trump's administration brings "potentials" with it, Pavlik said, such as tax cuts, tax incentives, reduced regulation, job creation and a tax amnesty on repatriated cash. "All of this is going to add to consumer confidence and investor confidence," he said.
In this type of environment, the S&P 500 could get up to about 2,400, Pavlik said. "And if that does happen, you start to tow in, even at these levels," he said.
Pavlik explained his suggested strategy: "Buy in now. You buy a small percentage of your overall investable assets and, if the market treats you right, you add to that position. So you're dollar cost averaging as you go up. So each new successive purchase, you own that stock at a price below the current market."
Even the financial sector, which has been rallying since the election on Nov. 8, still has the potential for expansion, Pavlik claimed. "I think the earnings growth is going to be able to support the current valuations and even higher valuations going forward," he remarked.