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Analysts: Time to Go Bargain Hunting

At a time when many investors are looking to cash out, some market experts caution to stay in.

Now is not the time to sell, David Katz, of Matrix Asset Advisors told CNBC's Erin Burnett on "Squawk on the Street."

"The last time stocks were this cheap was in the early '70s," he said. "We think if you have any sort of perspective, stocks are going to be higher."

McGraw-Hill, for instance, is "dirt cheap at eight times earnings," he said. He also suggested investors look at Dell , Cisco , and Devon Energy.

Lawrence Glazer, of Mayflower Advisors, also advised investors to lose the victim mentality.

"It's never paid to sell into that fear," he said. "Take advantage of these opportunities; they happen once in a lifetime."

Glazer outlined two choices for the investor on "Squawk on the Street."

“You can either sell into this redemption cycle; sell into this liquidation phase, or you can use it to your advantage and start looking into opportunities.”

Emerging markets, international and financials may represent “compelling” long-term values, he said.

“It was only a few months ago that the world stood in awe of the power and promise of Beijing; now it’s a pariah,” Glazer said. “This is when you want to start looking at those ideas for long-term investing.”

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