Cramer game plan—Humana smoke could be Monday fire

Is the Fed missing something?

Jim Cramer has basically accepted the fact that the Federal Reserve will be raising interest rates soon. But if he were just looking at the fundamentals of the economy right now, one would think they should be cutting them instead!

"The data for pretty much every industry I follow is coming up short, yet at the same time, it's become a matter of when, not if, the rate hike will occur," the "Mad Money" host said.

So, why not just go out and sell everything in your portfolio? Cramer is banking on two reasons to stick around.

First, the Fed execs could come to their senses and stop talking about how a raise in rates is inevitable. Second, there are actually positives happening outside the U.S. that could ultimately reverse America's export deficiency.

With this in mind, Cramer took into account a few international events to see how they play out on the world stage when crafting his game plan. If Greece finally finds a way to resolve things in Europe, Cramer thinks the stock market could rocket much higher based on the fact that a Greece deal could lead to a stronger euro.

However, if a rate hike occurs without a deal in Greece, the dollar could soar. And considering the fact that in the past decade, the month of June has brought the Dow Jones industrial average lower 80 percent of the time, the negative trend could continue if the dollar stays strong.

What else is Cramer watching next week?

The Humana headquarters office stands in Louisville, Kentucky.
Ty Wright | Bloomberg | Getty Images

Monday: Humana
It is possible that investors could learn about a deal in the healthcare space. In last week's game plan, Cramer indicated that there is imminent consolidation in the HMO space and even said Humana could be the target. On Friday, Humana acknowledged that a deal could happen and noted that it's working with Goldman Sachs for a potential sale.

As a result, the stock shot up 5 percent on Friday, and the "Mad Money" host suspects that where there was smoke on Friday there may be fire on Monday.

Tuesday: Dollar General, Medtronic
Dollar General: The West Coast port slowdown hit many bargain stores hard, but Cramer thinks Dollar General will have positive things to say about the future on Tuesday. So, while the numbers may not be great, the outlook will be good.

Medtronic: When this company merged with Covidien in January, it could have created a powerful combination. Investors will see just how powerful it is when it reports Tuesday.

Wednesday: FireEye analyst meeting
FireEye: Cramer thinks investors might want to own this stock ahead of the meeting. Cybersecurity has become such a strong theme in the market, and FireEye is in the center of it all.

Thursday: JM Smucker, Verifone
JM Smucker: If you are an investor in the same boat as Cramer and you think that the economy is slowing, then you'll want to see what Smucker has to say. This is one stock that can keep going higher as interest rates rise.

Verifone: Cramer remembered that Verifone last time reported a strong quarter but was initially misunderstood. He thinks this could happen again. He likes the long-term theme on this stock, so if it gets hit, it might be time to take a closer look.

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Friday: Labor Department's non-farm payroll report
"I am more fearful of this number than I have been in ages," Cramer said.

Why? While every other piece of data about the economy has come in weaker recently, employment has stayed strong. If a big number is reported, Cramer thinks the Fed rate hikes will become imminent despite all of the other soft data.

So, if there is lots of job creation, Cramer thinks this market could be headed a lot lower.

"That's because we'll be fighting the Fed, and that's always the wrong bet. A weak number, on the other hand, could get the Fed heads to put a cork in it and spur a decline in the dollar to boot," Cramer said.

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