I noticed a bunch of stocks forming pennants lately, small caps (IWM/RTY1!) has a huge on as I mentioned earlier today.
I think CPI numbers Tuesday determines the direction, the only thing that can tank the market is inflation. I might run a straddle with options Monday before close since I have no idea if CPI comes in above or below estimates. GM is a good one to play since it moves well relative to option premiums.
The return isn't all that great when you play straddles, but the most you can lose overnight is premium for one night and the spread between bid and ask. Just pick a stock that moves a lot with small spread.
Let me know if you have other stocks or ETFs that might be worth playing Monday.
Also, retail sales Thu and PPI numbers Friday.
I think CPI numbers Tuesday determines the direction, the only thing that can tank the market is inflation. I might run a straddle with options Monday before close since I have no idea if CPI comes in above or below estimates. GM is a good one to play since it moves well relative to option premiums.
The return isn't all that great when you play straddles, but the most you can lose overnight is premium for one night and the spread between bid and ask. Just pick a stock that moves a lot with small spread.
Let me know if you have other stocks or ETFs that might be worth playing Monday.
Also, retail sales Thu and PPI numbers Friday.