Jim Cramer watches economic data like a hawk; the data is an important component of the homework he so often talks about. And of all the economic releases, Cramer has found that nothing matters more for stocks than the jobs report.
"Absolutely, nothing can stoke a bull market or give bears more reason to roar," Cramer said.
And after sifting over years of data and examining the ways in which the market moved in response to both good and bad reports, Cramer has found some interesting patterns that could help you leverage the action.
If the jobs number is better than expected...
Cramer wants you to stay on the sidelines for at least 90 minutes. Really!
The jobs number is typically released at 8:30am, but, "If you wait until after 10 a.m. on the day a strong jobs report comes out, you will almost always get a better price than you would at the opening," Cramer said on "Mad Money."
In other words, buying right away can be a mistake. The reason?
"After a good payroll report there's often a huge amount of short-covering in the first half-hour of trading," Cramer explained.