Jim Cramer likes Warren Buffet because he isn't a trader. Like many investors, he is simply looking for inexpensive stocks of well-run companies that deserve to be bought.
"Buffett is a welcome joy versus people who just blast away and call tops all the time or seek to make their negativity known with broad sweeping gestures," the "Mad Money" host said.
The Street recently did a study on how the market performs on the Monday after a Berkshire Hathaway meeting, when Buffett will appear on CNBC. It found that in the last 10 years, the market rallied on average 0.5 percent the day after the meeting.
The market, however, historically loses that gain by the end of the week. Meaning, there is a Buffett bounce that occurs but it does not last.
"Maybe save the ideas for later in the week when the rosy hue is long since forgotten," Cramer said.
With this in mind, Cramer outlined the stocks and events that he will be watching:
Monday: Anadarko Petroleum, Denny's
Anadarko: Cramer thinks oil could trade toward $50 because of a decline in supply coupled with an increase in demand. The U.S. and China are using up oil and producing less of it.
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Now that the major oils Exxon and Chevron have reported, he is interested to find out from an independent why the major integrated oils have not purchased the independents during oil's downturn.
Denny's: Something is happening in the dining space, and Cramer can't figure it out. Is McDonald's taking share from everyone? Cramer wants to hear what Denny's has to say about it.
Tuesday: Clorox, Cummins, CVS Health
Clorox is one of the least economically sensitive companies on the tape, and Cummins is one of the most. Cramer will be looking for patterns between the two to determine the market's mood.
Wednesday: Royal Dutch Shell, Whole Foods
Royal Dutch: Cramer warns that this one could get ugly. It is the most challenged of the major oil companies, and investors should listen to the forecast.
Whole Foods: There has been speculation that it will go private or catch a takeover bid. Cramer doesn't care about either of those things. What he cares about is how the new small-format stores are doing. If it is good, the stock is a steal. If it's bad, the downside won't be too huge.
Thursday: Activision Blizzard
Cramer is betting with its CEO Bobby Kotek, not against him. He's looking for a strong forecast and a beat on the top and bottom lines.
Friday: Non-Farm Payroll
The labor department will release its non-farm payroll report, which means investors should look out. If it is a good number, that means there will be more chatter about a rate hike from the Fed in June.
How to win the guessing game?
"Buy the banks. Now that oil has gone back up to where defaults are less of an issue and we may be on the verge of some rate hikes, why not go buy some JPMorgan or any other big bank?" Cramer said.