Cramer couldn't believe it: President Obama made a speech, and stocks didn't go down.
It first happened Wednesday when he spoke at a community college in Ohio, and again Friday morning when he held a press conference on the economy from the White House. Obama is showing us a side of himself that we haven't seen since he took office, Cramer said, and it's a turning point. Before, Cramer said, Obama talked about big business like it was the enemy and demonized the CEOs who were trying to make us money. Every time he spoke, investors would "duck and cover." But after his addresses on Wednesday and Friday, Cramer thinks the "old Obama is history."
It's now time to throw the old Obama Game Plan out the window, Cramer said.
"It no longer makes sense to sell stocks when the president is about to give a major address or a press conference," said Cramer. "He’s no longer the enemy. In fact, I think he may even be bankable. He could be a force that can send the market higher, not lower."
Starting next week, Cramer is "game-planning President Obama." For starters, Cramer noted Obama's expected to nominate Elizabeth Warren to head the new Consumer Financial Protection Bureau next week. He thinks Obama will use the opportunity to share more pro-business rhetoric. Obama also has a back-to-school speech planned for Tuesday, but Cramer said the president will probably give another speech about the economy at some point next week.
Make sure you are ready to buy before Obama speaks, Cramer said.
"We’ve been battling Obama here for so long that we’ve forgotten just how bullish it is to have the president on our side," explained Cramer. "This is going to be the pattern for the next three-and-a-half weeks leading up to Election Day, with the market rallying whenever we hear about Obama’s newfound love affair with business."
Elsewhere in the market, Cramer will also be watching jobless claims next Thursday. He expects them to be strong, and if he's right, you should sell bonds and buy high-yielding stocks.
Cramer is also anticipating a September report from the Federal Reserve Bank of Philadelphia, which measures the strength of manufacturing in the mid-Atlantic region. Last month, the Philly Fed Index contracted for the first time since July 2009, indicating weakness in manufacturing jobs. He hopes it will reverse.
There are also a slew of companies reporting quarterly earnings next week, including Best Buy , FedEx , Research In Motion and Oracle . Cramer recommends keeping an eye on those companies while watching out for the new President Obama.
"Can you believe it?" asked Cramer. "Obama back on the side of the bulls! Who'd of thunk it!?"
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