Jeffrey Gundlach says the stock market was and still is in a bear market

After a stellar rebound, still thinks stocks are in a bear market.

“The stock market was and still is in a bear market,” the founder and chief executive officer of Doubleline Capital said in an investor webcast on Tuesday. He also said stocks could go negative again in 2019.

The market dipped into bear market territory on Christmas Eve when it dropped dropping 20 percent from its 52-week high. Stocks have since staged a strong comeback from the massive December sell-off with the gaining nearly 19 percent from Christmas Eve low and more than 11 percent year to date.