Amid the market's new-found stability and less volatile environment, Jim Cramer could finally focus on his strong suit—bottom-up analysis of stocks.
"This less brutal backdrop has allowed us to analyze individual stocks and make judgments the way we used to before the beginning of this miserable year," the "Mad Money" host said.
However, just because the backdrop has improved doesn't mean he loves all oil stocks yet. He warned to stay away from Marathon Oil, and said he likes Occidental better.
So despite a weaker overseas market, Cramer has retail earnings on his radar as consumers will have plenty of spare change to spend thanks to better employment and cheaper gasoline
Friday: J.C. Penney, Footlocker
J.C. Penney: Cramer is worried about this one. If apparel is bad for everyone else, then how could J.C. Penney stand out from the crowd? He thinks the business is just too hard. While some speculators love this stock, Cramer considers it one that doesn't need to be owned.
Foot Locker: Footwear, however, is one of the strongest sectors out there. So if Foot Locker gets hit ahead of the quarter, Cramer thinks it is worth buying.
"Next week we are all about earnings, most of them retail, and I think you have to pick your spots," Cramer said.