Now's the time to get into the market: Pros

Stay the course, still bull market: Pro
Stay the course, still bull market: Pro   

The recent market selloff has presented investors with a great opportunity to buy, two market pros told CNBC Thursday.

"I don't know what's changed in corporate America since two, two-and-a-half weeks ago. Productivity's up, earnings are up, cash is up, the market has reasonable [price-earnings ratios] and price of sales. If you look at it, nothing's really changed," Neil Hennessy, chief investment officer of Hennessy Funds, said in an interview with "Power Lunch."

"If you want to be in the market, and you haven't been in the market, this is the time to get into the market."

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A trader works near a screen on the floor of the New York Stock Exchange, Oct. 16, 2014.
Brendan McDermid | Reuters
A trader works near a screen on the floor of the New York Stock Exchange, Oct. 16, 2014.

Paul Pagnato, founder of Pagnato Karp, has been patiently waiting for an entry point into the market, and found one Wednesday.

"It's been two years since the market's had a correction like this, and we have had 30 to 40 percent in cash for our clients' equity allocation," he said.

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He specifically likes consumer growth staples because "consumers' incomes are rising. With the gasoline prices dropping like they are, that's an immediate tax cut. People are going to have more discretionary income to spend."

Pagnato also likes the technology space.

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That said, he cautioned there were still issues ahead for the market, the biggest being the end to the Federal Reserve's bond-buying stimulus package.

"That's really significant. It's really going to take some time for the markets to get their legs underneath them," Pagnato said.