Cramer's 'Mad Money' Recap: Next Week's Game Plan
NEW YORK (TheStreet) -- Next week's trading all hinges on Federal Reserve Chairman Ben Bernanke, Jim Cramer told his "Mad Money" TV show viewers Friday.
Cramer said Bernanke's testimony before the Senate on Tuesday will determine whether the market has more rallies like today, or more fear-induced selling like Thursday.
Beyond the Fed, Cramer said he'll be watching Lowe's (LOW) on Monday as well as rival Home Depot (HD) , a stock Cramer owns for his charitable trust, Action Alerts PLUS, for a read on the housing recovery.
Tuesday also brings earnings from Saks (SKS) and AutoZone (AZO) along with American Tower (AMT) . Cramer said he'll be interested in the latest retail trends and thinks that American Tower could surprise to the upside.
Finally, on Thursday, Cramer said he'll be watching more retailers, mainly Best Buy (BBY) , Kohl's (KSS) and Deckers Outdoor (DECK) . He said Best Buy will offer a read on discretionary spending, while Kohl's and Deckers may offer insights into possible takeovers or buyouts.
A Market With Amnesia
Don't be so quick to bail out of a bad stock because in this market that bad stock might just come roaring back, Cramer told viewers.
Cramer said he's been amazed at the market's willingness to forgive even the worst performers. That certainly was the case with Hewlett-Packard (HPQ) , which saw its shares soar 12.5% in Friday's trading.