Watch the full interview with Jeffrey Gundlach, who sees 'tough, tough sledding' for stocks

Jeffrey Gundlach speaking at the 2019 SOHN Conference in New York on May 6th, 2019.
Adam Jeffery | CNBC

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DoubleLine CEO Jeffrey Gundlach said Monday that he is building another short position against the S&P 500 after the market rallied back following it's sharp sell-off in March. 

Gundlach said on CNBC's "Halftime Report" said he didn't see a lot of upside anywhere in the market and said investors should "beware of panaceas."