US Markets

Tough luck—stocks still your only option: Pros

Testing the market's strength
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Testing the market's strength

Investors left with motion sickness over the stock market's roller-coaster ride this year need to strap in for the ride, a pair of market professionals told CNBC on Friday.

Equities remain the best bet going forward, said Ariel Investments' Charles Bobrinskoy on "Squawk on the Street." There's simply no other place to put your money right now, he added. His bullish calls come a day after a deep selloff across major indexes, with the losing 1 percent.

"There are no good opportunities in bonds," said Bobrinskoy, a vice chairman and director of research at Ariel Investments. "Bonds are grossly overpriced. People don't want to earn zero on their cash. Equities relative to other alternatives may not be screaming cheap, but they aren't overvalued like bonds. That gives an underlying floor to the stock market."

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In this market, jittery investors mean better buying opportunities, Bobrinskoy said. After a frigid winter stunted growth, investors should now only begin to see the fundamental strength of the economy, bolstered by the housing, energy and automotive industries, he added.

"That's the best time to be a buyer, when there is fear," Bobrinskoy said on "Squawk on the Street." "We actually think there are a lot better opportunities to invest today than there were a month ago because the economy is going to get better."

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Technical analyst Dan Fitzpatrick, the president of stockmarketmentor.com, echoed Bobrinskoy's sentiment. He said the 5-year-old bull market has followed a pattern that investors can't ignore: When the market seems like its "topping," it only creates more buying chances and pushes prices higher.

"You have to stick with that pattern until the one time when it breaks," Fitzpatrick said. "And no body can really predict when that is."

On Thursday, market bears focused on a rally in 10-year Treasury prices that pushed yields below 2.50 percent. But they bounced back above 2.50 percent on Friday, an important threshold for stocks, Fitzpatrick said.

"We are in consolidation," he said. "We are not a momentum-driven market anymore."

—By CNBC's Jeff Morganteen.