A milestone on Wall Street left many traders feeling cautiously optimistic.
But, financial advisor Patrick Ayers is warning his clients and others to be careful.
"What comes up, must come back down. We really feel that we're on a sugar high. The new term that's been used for the last 6-months is the markets have 'melted upward,'" explains Ayers.
Even though there's been problems with the budget, issues with the sequester and people out of work, the market continues to climb and doesn't seem to be mirroring the economy.
Says Ayers, "We've got a lot of stimulus, there's a lot of problems that are still out there that can derail us at any minute."
Ayers says he finds many investors get caught up in the highs of the market, when in fact they should be doing the opposite.
He has had many of his retired clients take their money out of the market.
Explains Ayers, "My saying to them, I'd rather have cash in my hands be out of the stock market and trying to get back into the stock market, than being way back down in the stock market and hoping and praying that it comes back up just to get out."
But, if you don't want to get out just yet, he says remember the old saying, 'buy low, sell high.'
"We're in a bubble right now. Things are at an all time high. Take advantage of it while you can. It can't continue to go this high for this long. I hope that it does, but common sense tells what goes up, comes back down," says Ayers.
Ayers says depending where you are in your life, is going to determine your investiment goals and how you invest.
But, he says regardless, whether you're 30 or 65, diversify, have a global portfolio and don't just depend on the U.S. stock market.
