"Investors Should Sell Any Bounce Back" Top Investors See More To Come

"I expect a protracted decline in the S&P 500," Jeffrey Gundlach, co-founder of DoubleLine Capital, said in an e-mailed response to questions. "Investors should sell the bounce-back rally which could come at any time."

“Excessive risk exposure is adding to the selling pressure,” Gundlach said.

"You need to have some stabilization of fundamentals to give people conviction this has gone too far," Koesterich, whose firm is the world’s largest money manager, said in an interview. "Certainly you are getting closer to capitulation. The magnitude of the drop suggests that." .... http://www.zerohedge.com