Let me show you two stocks you should watch this week.

The first is NVDA.

On Friday NVDA surged up over 6% with a nice volume pop.

It's wild, because if you look at what it did in June it had a major key reversal day when it reported earnings after having already rallied 60% in just a few weeks.

At the time I thought that could be a sign that the stock might be done, but it basically consolidated since August in a triangle formation and broke out on Friday.

That suggests that this stock has some fuel in it now to run this month.

Now here is a stock that has not made a run yet back up to its summer highs, but might.

AMD has an interesting triangle pattern and has basically consolidating now for the past three weeks with support above $12.00.

Resistance is in the $12.50-$13.00 area.

A breakout through that should generate a nice 15-20% run.

And INTC made a move up last week that suggests the other semis (of which AMD is one) might get a bid now going into this week's Fed meeting.

Stock market bulls could buy with a stop loss below $12.00 and traders can also do an options straddle. That way you are betting only that a big move will happen once this pattern is resolved and do not have to be correct about the direction.

I don't really like to buy simply calls or puts much in options trades, because 90% of them expire worthless. But with straddles you only have to be right that a move happens.

And of course I really like to sell options more than anything as most expire worthless and you just keep the money.