As Jim Cramer prepared for the stock market roller coaster to continue next week, he found one event on Monday that could be a harsh wake-up call for investors.
"As early as Monday we get some news that could potentially stop this rally in its tracks, or at least, that's what it would have done not too long ago," the "Mad Money" host said.
The financial system in Italy is on the verge of collapse, and no one seems to care, Cramer said.
Additionally, if the Federal Reserve announces no rate hike on Wednesday, Cramer expects a sell-off in bank stocks. However, Cramer is ready for the rate hike. He wants to hear that the Fed sees better growth and will tighten even more in the future.
"Chairwoman Yellen, bring on your quarter point hike — we're ready for you!" Cramer said.
It wasn't long ago that Cramer was convinced that technology stocks were being sold off by money managers to fund stocks that will do well under Trump — but now he's changed his opinion.
"With all of the money pouring from bonds into stocks, I'm not sure if that source of funds argument is as central as I initially thought," Cramer said.
While Trump hasn't said much about the technology industry, Cramer heard several CEOs from the technology sector pushing the message that a Trump presidency could be catastrophic for innovation.
"Silicon Valley is a Democratic Party stronghold, and many tech executives decided to play politics ahead of the election," Cramer said.
Activist investor Paul Singer's Elliott Management has indeed launched many successful campaigns in the past, includingCabela's and CDK Global. However, for Cramer, his long term memory could not shake off its disastrous involvement of energy company Hess.
"As of the end of September, Hess remains Elliott's third largest position, and they're Hess's second largest shareholder, but to use less diplomatic language, this investment has been disastrous," Cramer said.
Elliott Management is among the best in the business, Cramer said. However, things can still go wrong, even when there is a smart activist firm pushing the company to unlock value.
The OPEC agreement sent the oil patch soaring, leaving Cramer to keep his pulse on the world of energy. However, with a new presidential regime coming into office, Cramer wondered what the regulatory implications could be for a company like Cimarex Energy.
Cimarex is an independent oil and gas producer with acreage in the Permian Basin, Cana-Woodford shale and on the gulf coast. On Friday, Cramer spoke with Cimarex CEO Tom Jorden, who shared what he hopes to see from the new administration.
"What we're hoping for out of the federal government are compliance partners to work with us and not just enforcing these regulations," Jorden said. "We can live with whatever regulatory environment that the U.S. wants to establish, [and] we're going to comply fully, but some of these regulations are horribly complex and we look forward to a compliance partner out of the federal government."
In the Lightning Round, Cramer gave his take on a few stocks from callers:
BP PLC: "BP, no. Look, it's not bad. It's just I like growth in the dividend."
Paychex Inc: "Trump stock. Simple enough."