Will the benign bull continue to run? That is what will be on Jim Cramer's mind during the week ahead. Frankly, the answer is complicated. A lot could happen over the weekend that could send Friday's even-keeled market off on a roller coaster ride.
First, it could depend on what happens when the G20 summit meets in Brisbane, Australia. Cramer sees this as the first time that issues like the Ukraine/Russia conflict will be brought up in an environment where several countries are represented, and he has hopes that it can be hammered out. Looking back at Cramer's 10-point checklist of what caused the market bottom in October, this was an item and it still remains open.
"Consider this G20 meeting as less of a photo op and more of a substance session. In other words, we have to care about it," Cramer said.
With the global economy brewing, Cramer still has his eyes on stocks next week. Here is what is on his radar:
Tuesday: "Days like Tuesday are why I love this business," Cramer said.
Home Depot: The "Mad Money" host expects this to be a dazzling number. He thinks new CEO Craig Menear will continue doing fabulous work. Companies like Home Depot are important because it tells investors where the extra dollars saved at the gas pump are going; this is one to watch.
Vipshop: This Chinese retailer recently split to give shareholders more liquidity, and its shares are up 192 percent for the year. Wowzer! "If they say good things then I think Alibaba will mount another charge to $120," Cramer said.
Footlocker: "Let me throw in that with the cold weather I want to buy some Deckers, and I'm all over Skechers for being real cheap here. These shoe stocks tend to trade together. I want to own them, and hopefully Nike comes down ahead of what I expect to be a terrific quarter from Footlocker."
One stock that has troubled Cramer for a long time is Globalstar. This company provides satellite based phone and data services, and it intrigues both bulls and bears.
It all started when Globalstar began lobbying the Federal Communications Commission to change rules to allow the company to use its satellite-only spectrum for Wi-Fi. The FCC seemed agreeable to this, until Kerrisdale Capital announced it was shorting Globalstar.
Kerrisdale then made matters worse when it sent a letter to the FCC advocating rejection of Globalstar's proposal.
At this point, Cramer smells an all-out war.
"I recommended Globalstar for speculation in early July… in retrospect I have to admit that this was a bad call since the stock has been crushed."
This stock has become a battleground, and Cramer is steering clear of this speculative play.
All you short sellers out there who thought you would get ahead of the oil game, Cramer is sending a warning. Be careful with your short selling, and don't overstay your welcome in the house of oil.
"As a former hedge fund manager, I can attest to the need to make money on all down days," said the "Mad Money" host.
Likewise, oil was also a battleground this week. The constant decline in oil this week sent a wave of selling for all companies that had anything to do with contract drilling or oil services. If it smelled like oil, people sold it. That prompted very aggressive short-selling.
Suddenly, investors panicked with the thought that oil companies will start to merge fast and furiously.
"Even the best of short ideas can kill you in this market if you overstay your welcome."
One stock that hasn't been taken to the woodshed as fast as oil has, is Lam Research. Cramer can only marvel at its strength with the way it has been running.
The supplier of wafer fabrication equipment to the semiconductor industry has been on fire, up 46 percent for the year and reported a beautiful quarter with a 2 cent earnings beat off of a 94 cent basis.
Cramer sat down with the CEO of Lam Research, Martin Anstice, to find out how they were able to generate such whopping results.
"One of the byproducts of consolidation in the semiconductor industry and also in our equipment industry, is there are cycles of discipline and there are cycle time capabilities that allow decisions to add capacity much more timely than ever before. So the need to anticipate is less. I think there is much less cyclicality. Much more discipline," said Anstice.
Retail stocks are also revving up to take off as well. Cramer thinks that it has caused retail to get its groove back. Finally!
"I say hold your horses. First of all, the climate has become just about perfect for retail. And I don't just mean the chill in the air. I mean that with consumer sentiment through the roof, clicking at an astounding 89, you don't want to cut back on any retail holdings you have," said the "Mad Money" host.
Cramer continued his words of caution in the Lightning Round:
Alcoa: "The stock is up huge, but I think it's stalled right here waiting for the next quarter. And I want to buy it because the price of aluminum is going higher."
Prospect Capital: "It's got a big yield, but who knows what they really own. It's one of those mezzanine finance companies, and those companies are out of favor and I'm not going to try to bring them back in favor."
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