Dan Passarelli, CEO - Market Taker Mentoring

You know how sometimes somebody tells you they're going to do something and you know they're going to do it but then when they finally do it, you're like, how could they have done that? That's kind of what is going on with the market today.

The Federal Reserve and economists and financial thought leaders have been telling us that we're going to have to raise interest rates and get more aggressive. In the final days leading up to the Fed announcement, it was widely expected that it would be raised 75 points and it was. We saw a little bit of follow through to the upside yesterday.

But that was all erased today because the reason why the Fed raises interest rates is to cool the economy. It's the cooling economy that cools inflation. There's just a lot more worry about that, so there could be a little bit more downside still yet to come.

So me, personally, I'm watching. I'm looking for a lot of different opportunities still finding some of those underpriced straddles and picking some spots I'm not ready to get in and start buying here yet.

But one thing I was talking about with one of our one on one coaching students just yesterday is that at some point we're going to hit the bottom. They call that the capitulation point or some people will call that the stomach turning point. When that happens, that's when you're like: I can't take any more - maybe now I should buy puts. That's usually the worst time to do it.

That's when I like to do things like start selling puts, taking advantage of massively high volatility and scaling into the market into more long, longterm holding positions.