Cramer's 'Mad Money' Recap: Staying Cautious for Coming Week's Earnings
NEW YORK (TheStreet) -- We don't know where the market will be when the fiscal crisis comes to an end, Jim Cramer told his "Mad Money" TV show viewers Friday, which is why his game plan for next week's trading included a lot of listening and not a lot of action. Cramer said he's skeptical of positive comments coming from the White House, as he's had his hopes dashed plenty of times before.
On Monday, Cramer said he'll be watching Lowes (LOW) and Jack In The Box (JACK) . He said Lowes isn't as good as rival Home Depot (HD) , which is why he'd use any weakness in Lowes to buy more Depot.
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As for Jack, Cramer said he'll be listening to see if the weakness at McDonald's (MCD) extended beyond that company and whether it's safe to buy back into Chipotle Mexican Grill (CMG) .
Next, on Tuesday, Cramer said it's Best Buy (BBY) , Heinz (HNZ) and Salesforce.com (CRM) reporting. He said things at Best Buy could be potentially terminal for that company, as other retailers like Sears (SHLD) have seen weak sales.
Cramer liked Heinz, a stock immune to the fiscal cliff, but said he's in listen-only mode with Salesforce, as nothing that company could report will likely be good enough for the markets.
Finally on Wednesday, Cramer said John Deere (DE) will be reporting. He said this company's shares get hit after every quarter, which is why investors need to be careful.
As for those ongoing budget talks, Cramer said he's reminded of 1990, when the markets were hinged on whether negotiations with Saddam Hussein would lead to a withdrawal of troops from Kuwait. Back then, everyone was on edge, he said, afraid to be long stocks going into the weekends, and covering their shorts daily. The same appears to be true today, he said, as no one knows when, or how, the budget stalemate will end.