Next week starts quietly, but Jim Cramer is gearing up for another busy week of earnings.
"We are still not done with earnings. Things will remain busy and confusing with wild trading in stocks simply because there aren't enough hours in the day to do the homework. Stay sidelined if you can," the "Mad Money" host said.
Cramer recommended doing the homework by reading conference call transcripts too, not headlines. When the headline doesn't match the conference call — that could be a great opportunity.
The most important data of the week will be the Labor Department's non-farm payroll report. Cramer isn't looking for fireworks, as it was clear from the Federal Reserve this week that the Fed seems to be on hold. If the report is very strong, he anticipates rate hike chatter will begin again and send down high-yielding names in the packaged goods group like Procter & Gamble, Clorox and Kellogg.
"We are now in political season, which means a bad number will cause more protectionist talk from the Republican nominee, Donald Trump, and given that we are in the full bore part of the campaign, we want to be careful, very careful," Cramer said.
Likewise, a weak jobs number could mean Trump turns his eye to trade policies, and this could mean stocks of international industrial companies could be under fire, he said.