It's been a tough week. So what's the game plan for next week? For Cramer it's all about the jobs report on Friday.
"I think when the Federal government reports how many people were hired in April ... we are going to see a significant decline in unemployment," Cramer said. "You're going to hear about this number of jobs created or that number — here's what we watch on Mad Money. We don't care about that creation number, we're looking at the households report. It's a much better indicator, and if we see a number that indicates we're headed lower to 9.5, 9.2, 9.1 percent on unemployment, I suspect you'll see a substantial rally in the markets and most importantly, the banks. Yup, the very banks that were taken down so wrongly today due to ill-conceived chatter stemming from financial regulatory reform."
While the devil is in the details, Cramer said he still is not hearing anything worrisome about this legislation and is "excited that we're going to get some clarity in the next month."
"Do we have to wait for this number to be reported on Friday to buy stocks? Absolutely not. Not after the shellacking we took today.
Cramer said he thinks the bank stocks will rally of their own accord.
"However, if I am right and the household number shows a big downtick in unemployment, and if a consensus on financial reform begins to develop next week, as I believe it will, you could have the beginning of a monster rally in the financials," Cramer said.
So how will the week fare for individual stocks? Here's a day-by-day breakdown:
We get reports from restaurant supplier Sysco and from aggregate giant Vulcan Materials .
"Why are these important?" Cramer asked. "First, we've had an incredible bull market going on in restaurants ... and Sysco will give us a heads up ... on if it will continue.
"As for Vulcan, this company has been saying there are no stimulus dollars. They haven't filtered down to where crushed rocks are being bought ... I think that’s starting to change and we’ll be impressed with the quarter, although the stock has run already in all fairness."
Watch Steve Madden , Cramer said. "We think the Shoobie’s going to show why we believe the shoe bull market is not only alive and well but scorching," Cramer said.
"Speaking of scorching, we know that we need more cell towers ... as our telco infrastructure morphs from a network that was built to handle terrestrial voice traffic to a wireless data and video world, and if we are right then we could hear great things from cell tower companies American Tower and SBA Communications ."
"Last night I said I believe the drug companies have bottomed," Cramer said. "This is a gutsy thesis. They've been real dogs. So let’s see if Merck and Pfizer , both of which report Tuesday, confirm what I think may be a nascent bull market."
WednesdayTransocean reports, and Cramer said he thinks the company that owns the Gulf rig that’s spewing barrels of crude, will defend itself well on Wednesday when it reports. "Will anyone listen? Frankly, I doubt it," Cramer said. "When this mess gets cleaned up you need to buy Transocean, you gotta buy it before it's cleaned up, so let’s listen in to hear how much of the business is non-gulf."
Speaking of the gulf, Cramer noted the market’s been "hating Devon" ever since it sold its Gulf properties to Apache in order to concentrate on domestic natural gas.
"All I can say ... is it's better to be lucky than good, and I think Devon’s going to surprise us on Wednesday with how much natural gas it has found, and how cheaply it has found it," Cramer said.
The Week's Tsunami Play JDS Uniphase stalled at $13, but Cramer said he thinks the internet equipment tester is "ready to bust out to the upside."
Clean Energy Fuels , Copano Energy and Scotts Miracle-Gro Co.
"You know Boone Pickens has a $100 bet with me that we will see legislation that would benefit CLNE by Memorial Day," Cramer said."If we get this legislation, the earnings won’t matter; the stock will soar. If we don’t, the run in this stock has been too much. Lets get the skinny on that call."
"We want to hear from this new fave about how things are doing," Cramer said. "This is one of the few stocks that was up today, in part I bet because of that outsized 8.7 percent yield."
Scotts Miracle-Gro could be "one of the biggest upside surprises of all when it reports Thursday," Cramer said. "I still think you need to be in ahead of the quarter."
The unemployment report. "It makes me feel that every trade’s at risk until we see that number," Cramer said. "I’m bullish on it, betting we will get a clean, clear indication that people are being hired again. If I'm right, we’ll be headed toward Dow 12,500 after this cleansing sell-off ... If I am wrong, I still think that these trades I describe will work, but the upside will be muted so, please, do not be greedy."
Call Cramer: 1-800-743-CNBC
Questions for Cramer?
Questions, comments, suggestions for the Mad Money website? email@example.com