The next few days could see an increase in volatility. There are multiple events that could generate some market-moving headlines.
There is an OPEC meeting on Friday. Their decision on oil production should come out before the U.S. market opens on Friday morning. This could definitely make waves in the oil stocks.
The nonfarm payroll (jobs) number on Friday could definitely move the market. Economic activity in the U.S. has been rather sluggish. There is a good chance the jobs number disappoints and comes in below estimates on Friday. The question is if traders will view a weak jobs number as bearish, since it means a weaker economy, or bullish since it would mean the Federal Reserve will likely delay its next rate hike?
Plus we have the intense situation with Greece. They have a big 300 million euro payment due to the IMF on Friday. They have been waffling on whether or not they can or will make that payment. Greece may choose to miss it as a way to put pressure on its creditors in Europe to make a deal. How will the market react if they miss a payment?
With so much happening in the next 48 hours we are not adding any new trades tonight.