Once again, oil was in control of stocks on Friday. The market is so interlinked with crude that Jim Cramer pretty much knows if oil opens down, so will stocks.
"Oil is in control as we saw today. That is OK, as long as we know what we want to buy as we can use the declines to put money to work in situations that might not otherwise be down if it weren't for crude's weakness," the "Mad Money" host said.
While individual stocks can transcend oil, Cramer anticipates that crude will be in the driver's seat again next week because of the OPEC meeting in Doha. Oil ministers from both OPEC and Russia are expected to gather to discuss freezing oil production.
"This meeting isn't about freezing anything. There are way too many countries involved and OPEC itself is basically broken. It is every country for itself in the oil market," Cramer said.
Cramer recognized that OPEC is still relevant, but in his perspective, everything comes down to supply and demand. Right now supply is being cut back in the U.S. and demand worldwide is picking up.
Cramer expects that no conclusions will be reached at the meeting, and oil will sell off. That is when he wants investors to buy favorite stocks — but not oil stocks — that are taken down by a market-wide sell-off.