The market may be trading in a narrow range, but there is opportunity to make higher returns if investors know where to look, two experts told CNBC on Wednesday.
Narrow trading ranges and light volume have been the theme this summer, with the S&P 500 not moving more than 1 percent in either direction in the last 32 sessions.
"In this type of market, it will give you opportunities all the time," Hodges Capital Management CEO Craig Hodges said in an interview with CNBC's "Power Lunch." His firm's Hodges Fund is up 26 percent year to date.
"When you can buy great companies on sale, that's what we try to do," he said.
For example, non-energy stocks that are affected by energy prices can be "cheap." Texas banks have been "clobbered" and hotel company La Quinta saw its stock fall because of its exposure to the Lone Star State, Hodges said.