Dow closes above 21,000 – experts warn about euphoria

The stock market set a new record today, closing above 21,000 for the first time ever. The Dow closed up 303 points today after President Trump’s speech last night.

In fact, since the November election stocks have climbed 20 percent.

Certified financial planner, Mike Onkes of LPL Financial says it’s a good time to be in the stock market.

But he warns that history shows stocks can go down as fast as they go up, so it’s important to diversify investments and not put all your eggs in the stock market basket.

“It’s times like this people get that euphoria,” Onkes said. “They see the markets going up day after day and it’s easy to get caught up in that and say ‘I gotta get in this while it’s going up and try to chase those returns,’ but that’s historically not the thing to do. You want to have an allocation you stick to and then obviously you benefit from these big runs, but then you’re not selling your conservative investments to get into the stocks to chase these returns. “>

Onkes recommends people sit down with a financial adviser to figure out the best way to invest their money for their particular situation.