Jim Cramer: How the Dow Will Fare in 2014, Part 3

Tickers in this article: AMZN CL COST DIS HIG IBM KR MA MMM MRK NKE PFE PG S T TMUS TRV UL UNH UTX V VZ WFM WMT

Note: This is a three-part article. Please see part one and part two.

NEW YORK (Real Money) -- Here are my last 10 forecasts for how stocks in the Dow Jones Industrial Average will perform next year. See my first 20 predictions here and here.

21. Nike had a fabulous quarter, but the Chinese futures orders weren't strong enough, and neither was the company's spending for the future. I think the company's China segment will turn on the strength of its economy, and that the U.S. and Western Europe will stay strong. I was surprised that China didn't roar, but I also know that Nike is a counterintuitive stock: You have to buy when a number is awry, because Nike's management has a very positive habit of fixing what goes wrong, and fixing it quickly.

It wouldn't be a stretch to see this stock sell at a super premium multiple on a number north of the $3-per-share consensus, and for the stock to rise to $85. That would make it the most expensive stock in the Dow, but it isn't as if the company missed on the top or bottom line -- and I think it will only do better as the year progresses.

22. Pfizer ? I don't know. This company has done pretty much everything it can to avoid really getting crushed by the patent cliff. But, unlike Merck , another drug company with no growth, I don't know what Pfizer can do for an encore after its 31% gain this year. Here's one that I think will tread water next year, and I believe it would be hard pressed to go above $34 unless the company reveals a blockbuster drug that no one knows it has, which I regard as unlikely. I just think it will be one of the bigger blahs of the Dow. Then again, it has a decent dividend and a pro-shareholder management, so maybe it has something up its sleeve that I can't see.

23. Procter & Gamble . I don't think the U.S. is going to have a stop-start economy this year. To me, that 4% growth in gross domestic product is more of a beginning than a coda. So lots of people will continue to bail out of P&G, as they did at the end of the fourth quarter of 2013. I think they will be wrong. A.G. Lafley has come back to make changes, not to be a caretaker, and I think this is the year he'll do so. Frankly, P&G is too big and too layered, and even though Bob McDonald was starting to make headway with the overhead before he was sacked, there is much heavy lifting to do -- too much if the company isn't split up.