Cramer’s Game Plan: Drama in the Week Ahead
Look out the window of any office building on Wall Street and you're bound to spot a bull or two doing some sort of victory dance.
The Russell 2000 index of mid-cap and small cap companies also hit a record, which pros consider a confirmation of the broadness of the rally. About three-fourths of stocks traded on both the New York Stock Exchange and the Nasdaq were in positive territory.
"Unfortunately, the market is a cruel taskmaster," reminded Jim Cramer on Friday's broadcast. "No sooner do we go to all-time highs then we have to evaluate what's next in an attempt to find more opportunities and avoid pitfalls."
Following are the catalysts the Mad Money host thinks could move stocks and perhaps the entire market through Friday May 10th.
SATURDAY MAY 4 / SUNDAY MAY 5
Cramer said next week is a rare week when the most important event happens over the weekend. "35,000 people will venture to Omaha to hear Warren Buffett opine on the state of the world at the Berkshire-Hathaway annual meeting. Each year he tells his minions what he thinks is going to happen and how shareholders will benefit from it," Cramer said.
Because Buffett is perhaps the most influential investor alive today his commentary is largely expected to influence many areas of the market.
Looking at Berkshire stock specifically, Cramer reminded the recent technical analysis profiled on Mad Money suggested the stock could break out. "I think this weekend's confab could be the launching pad," he said. (Read More: Cramer Charts Berkshire: Is Buffett a Smart Bet?)
MONDAY MAY 6
On Monday the energy trade comes into focus with earnings from Anadarko. "I like Anadarko's Gulf of Mexico holdings," said Cramer. "I think they could boost their forecast for how much oil they can produce."
Earlier in the week Cramer identified this stock as one of his favorite ways to play the renaissance in domestic energy.
"The company's Shenandoah find was discovered back in 2009, but it was only at the end of March that we learned the resource potential here could exceed 300 million barrels for Anadarko, and that could be a low-ball figure," Cramer said. "Plus, given Anadarko's track record, if I had to bet on a company making another major deepwater find in the Gulf of Mexico, I would bet on them," Cramer said. (Read More: Energy Quest: Cramer's Gulf Plays)
TUESDAY MAY 7
On Tuesday Cramer will take a read on the healthy eating trend with a quarterly report from Whole Foods. "We know that competition from both Kroger and Trader Joe's has started to give Whole Foods a run for its money," Cramer said. "However growth is intact. I wouldn't be surprised if the stock doesn't run some more after spending time in purgatory."
Media will also steal the spotlight on Tuesday when Disney reports. "I have to tell you the stars are aligned here," said Cramer. "They have a film roster that's red hot while the theme parks and ESPN are practically printing money. Here's my hope: Disney gets crushed Tuesday so I can recommend it Wednesday."
WEDNESDAY MAY 8
Again energy lands on the radar with earnings from Heckmann. "I believe Heckmann has tremendous long-term potential," said Cramer, but in the near-term the Mad Money host doesn't expect a big quarter.
THURSDAY MAY 9
Cramer's looking for a little drama on Thursday when DISH Networks reports earnings. "Chairman and founder Charlie Ergen is one of those larger than life business people," Cramer explained. "Right now he's aggressively trying to acquire Sprint by trampling another suitor, Tokyo-based Softbank. Earlier this week Ergen trash-talked Softbank with some old fashioned smash-mouthed jingoism that included how important it is for people in the phone and video distribution business to be able to speak English. I almost fell out of my chair when I read about it. This one's theater in the first degree."
Also online travel comes into focus with earnings from Priceline. "I'm a huge believer in Priceline because it provides a cheaper way to travel at a time when everything from hotels to rental cars to plane tickets are going up in price. However, this stock can move wildly and the first move after earnings can't always to be trusted."
Read More from Mad Money with Jim Cramer
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Energy Quest: Cramer's Gulf Plays
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FRIDAY MAY 10
Timber and paper will get Cramer's full attention on Friday. "We'll hear from Dan Fulton, the CEO of Weyerhaeuser at a shareholder meeting," Cramer explained. "When Weyerhaeuser reported recently Fulton was very conservative, as he always is, and the stock sold off. I think that this shareholder meeting will bring out a better, more positive multi-year story."
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