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Cramer's game plan: Bring it on, Fed

Cramer's game plan: Bring it on, Fed

With a strong employment number reported on Friday, Jim Cramer still considers the market to be just crazy town. Most investors have been conditioned to believe that good news is bad news because that meant the Fed would raise rates. On the contrary, the market actually liked the strong employment number and rallied in response.

"We regard this strong jobs number as a sign that things are good enough for the Fed to tighten, so, bring it on," the "Mad Money" host said. (Tweet This)

So, now Cramer is operating under the assumption that everyone with a pulse knows the Fed will raise rates, and everyone will just have to wait to see what it says in its commentary when it happens. If it's a "one and done" rate hike, then Cramer anticipates the market will rally like it did on Friday.

Until then, he will proceed as usual.

With this in mind, Cramer outlined the stocks and events he will be watching next week.

We should be back to picking stocks in the expectation that they will go higher if the numbers are good and lower if the numbers are bad
Jim Cramer

Monday: H&R Block
H&R Block: Cramer has championed this stock for ages because of its connection to the Affordable Care Act. For people who fear getting dinged by the IRS for not having insurance, H&R Block will help them understand the regulations. The company is also in good shape to buy back a ton of stock, and Cramer likes that.

Tuesday: AutoZone, Toll Brothers, Costco, Home Depot analyst meeting
AutoZone: This is a clockwork trade. The company always reports a number analysts don't like, and then it comes in and buys back its own stock a few days later. That prompts the stock to go higher than where it was before it reported. Cramer recommended picking some up on the dip.

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Toll Brothers: Cramer worries most about the housing industry when he thinks about higher rates. Will it slow down? Toll Brothers will have that information.

Costco: Cramer absolutely loves this stock and says it is in the sweet spot with good same-store sales. He thinks it could come in after it reports because it had a large run off its upgrade this week.

Wednesday: Lululemon Athletica
Lululemon: Many investors want to own this stock because they think it could be taken over. But then, if the earnings are not good, investors sell the stock again. Going into the quarter on Wednesday, Cramer considers this stock guilty until proven innocent.

"My problem is that I can never recommend a stock on a takeover basis if the fundamentals are suspect, and I think they remain suspect at Lululemon," Cramer said.

Thursday: Adobe, YUM Brands & United Technologies analyst meeting
Adobe: Cramer expects the same clockwork trade with Adobe as he does with AutoZone. Typically, this company tells a story that people do not understand. Cramer suggested that if the company makes conservative commentary and the stock cracks, it is time to do some buying. Just do homework before the quarter and be ready if there is a pullback.

Friday: University of Michigan Sentiment Index
Cramer will be interested to hear if there has been more consumer spending. It seems to be a glum moment right now, despite all of the new jobs created and gasoline going under $2. The sentiment number will matter more than usual because consumer spending during the holiday season will have a large impact on retailers. He will be paying close attention to this index.

So, the tide has turned, and the market now likes what it once hated — accelerated job recovery. Investors have less fear that the Fed will hurt the economy when it raises rates.

"With that in mind, we should be back to picking stocks in the expectation that they will go higher if the numbers are good and lower if the numbers are bad," Cramer said.

Who knows, maybe then the market will finally leave crazy town.

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