Jim Cramer called Friday's market a roller coaster, as it spent the day seesawing between people who want a rate hike and those who fear one. Ultimately, the Dow closed in the green, and the S&P and Nasdaq closed down.
"It makes sense. Some people want to believe that with Fed Chief Janet Yellen saying there will be a rate hike, we have somehow eliminated the uncertainty that the market loathes," the "Mad Money" host said.
But there are still bigger-picture worries in the back of Cramer's mind that a rate hike cannot solve. Such as the black holes of Glencore, the European commodity company; Petrobras, the Brazilian company with $170 billion in debt; and now disgraced Volkswagen. None of these issues benefit from a rate hike.
These concerns overshadow the strength of individual companies, such as Nike, which put up amazing numbers on Thursday and had almost no pin action outside of itself.
However, there will be winners of the rate hike in a higher-interest world.
"This impending rate hike will mark the beginning of a turn in the bank stocks, and I urge you to recognize that Wells Fargo's alive and doing quite well," Cramer said,
With these thoughts on his radar, Cramer laid out his game plan of stocks and events he will be watching next week: