The Russell 2000 Index officially reached bear market territory today. Another vicious selloff in the market Monday was especially hard-felt by investors in small-cap stocks. These lower-volume stocks tend to get the worst of it at times like these. They also are the places to make the most money for an eventual rebound.

Is now the time to be buying? After today, I think the answer is yes.

Take away the fear for a moment and you will realize nothing in the past two weeks has really changed. What exists today existed a month ago, a year ago or even dating back to the financial crisis of 2008. The risks for a double-dip recession have always been there. Strike enough fear in the hearts of consumers, and that fear becomes a self-fulfilling prophecy — but that doesn’t guarantee a double-dip will occur.

What we are seeing now is a crisis in confidence. When investors have no confidence, there are no buyers, or certainly fewer of them. The worries of the market certainly are justified. Washington does not exactly exude leadership on major issues, and Europe has many of the same problems that date back to the Middle Ages.

The volatility index touched levels not seen since March 2009. It is no coincidence that such a date was when stocks hit rock bottom. The same is likely to happen in the current environment. When you consider that we are in a far better place today than we were in the depths of the U.S. financial crisis, it should be relatively easy to be bullish on the market now. There are bargains aplenty.

My favorite place to shop at times like this is the small-cap space. These stocks tend to rebound quickly, making big profits for those willing to take the risk when fear is at its greatest. Now is one of those moments.

Here are three small-cap stocks to consider today:

Brightpoint Cellular

The smartphone and tablet revolution is far from over. Forget about the fear over the economy and global debts, and instead think about making money on a small-cap stock poised to benefit from this tech explosion. Brightpoint Cellular (NASDAQ:CELL) is a $500 million market-cap stock after losing more than 10% of its value Monday.

This stock is a screaming buy at these levels. The company recently reported second-quarter earnings results that beat Wall Street estimates by 3 cents per share. Brightpoint has beaten expectations the past four quarters and is likely to do so again. Shares jumped to $9 per share after the report was released and closed at $9.41 last Wednesday.

With the stock down 20% in just three short days, I would swoop in and buy Brightpoint at these levels.

AK Steel

Steel stocks were humming along before the stock market arbitrarily decided the end of the world was here. AK Steel (NYSE:AKS) has been pummeled in the recent selloff, with its market cap falling to $860 million. Shares are down more than 50% since July 22. That kind of selling is completely unwarranted, making a snap-back rally likely.

In the most recent quarter ending June 30, AK Steel reported a profit of 32 cents per share. The problem was that the company missed estimates by 18 cents per share. In the two previous quarters, the company beat estimates. The miss could be explained by the March earthquake and tsunami in Japan and a pause in economic activity in the U.S.

Going forward, Wall Street is looking for AK Steel to make 63 cents per share in the current year, growing by more than 100% to $1.41 in the following year. Investors, thanks to the meltdown in stocks, can buy shares of AK Steel at 12 times current-year estimates. That is a steal in my book, and I would buy shares of AK Steel at these levels.

JAKKS Pacific

There is nothing in the operating performance of toy company JAKKS Pacific (NASDAQ:JAKK) that would merit the recent selling. Of course, nothing in this recent selloff has anything to do with operating performance, especially past performance. The market clearly is concerned about the future, and it is taking no prisoners.

JAKK is down 20% since hitting $18 per share on July 25. That selling puts the market cap for this small-cap stock at $387 million. During the past year, the company has met or beaten Wall Street estimates for profits. Analysts expect the company to make $1.42 per share this year, with that number improving by 16% in the following year to $1.64 per share.

You can buy the stock today for just 10 times current-year estimates of earnings. That is a bargain, even if the economy slows as currently is expected. Toys are relatively recession-proof, making it unlikely that estimates will be missed. I would buy this stock at today’s ridiculously low levels.