Gpu for phenom ii x4 965 black

the title basically says it all.

i will have a budget of $100-$135 (tax and shipping included)
now i could wait until christmas on the graphics card and then spend even more money and get an even better gpu
but i'm impatient  .

now i was also wondering if i wait on the gpu would i be able to hook everything else up and run the computer without having one and just having a cpu? (don't call me stupid if i can't >.<)

also my psu is 550watts