AlphaOne Capital's Dan Niles' fund is positive in 2020. Watch where he sees stocks headed from here

AlphaOne Capital Partners founding partner Dan Niles spoke about where the market is headed from here on CNBC's "Squawk Box" on Friday.

Niles said stocks' rally this week was a classic bear market rally and that the market will soon retest its lows or create new lows. AlphaOneCapital's fund, which is now positive for the year, has added back short-positions, expecting stocks will go down again.

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