Investor Dan Niles details his trading strategy, believes it's 'way too early' for stocks to bottom

Dan Niles of AlphaOne Capital Partners said Friday that he doesn't trust the bounces the stock market has seen and thinks the market is still a long way from a bottom.

"If you go back and you look at, whether it's the global financial crisis or the tech bubble, you had a lot of rallies that sucked people in and caused some real damage," Niles said on "Squawk Box."