Cramer's game plan: One number could trigger stocks to be slammed

Next Friday, Jim Cramer will have his eyes glued to the Labor Department's non-farm payroll report, because a strong number will encourage the Federal Reserve to raise interest rates.

It will be the most important day of the week, and Cramer wants to see a strong jobs number.

"So many financials have rallied so hard in anticipation of a March rate hike that if we get the kind of weak number that might discourage the Fed from taking action, it could cause these stocks to get slammed," the "Mad Money" host said.

At one time, the market feared a series of rate hikes from the Fed. Investors now welcome it because there is confidence that the economy can handle it. As long as the global economy continues to improve and U.S. hiring is strong, Cramer said higher rates are vital.

In fact, if the Fed doesn't tighten, the market would likely react negatively, Cramer said. Partially because the banks need higher rates to make money, and also because it would imply that Fed Chief Janet Yellen knows something about potential problems that might be lurking.

As for the rest of the week, Cramer outlined the stocks and events on his radar for each day.

Monday: Thor Industries
Cramer thinks Thor's earnings will be "dynamite" when it reports on Monday. As the No. 1 maker of recreational vehicles, Thor is right in the sweet spot of millennials who love to camp.

Tuesday: Dick's Sporting Goods, Urban Outfitters
Dick's & Urban Outfitters: Cramer cautioned against buying these stocks because they sell a lot of apparel, and he does not like apparel retailers right now.

"Just sit on your hands," Cramer said.

Wednesday: Tech Data
Cramer thinks Tech Data will be a winner when it reports. Approximately 60 percent of the company's business is in Europe, and Cramer believes Europe's economy is running hot and likes the stock.

Thursday: Ulta Beauty
In a world that loves Snapchat and social media, Ulta is the perfect play in a world where your picture can be taken at any moment. The company reported strong numbers last time, but sellers pounded the stock anyways. The stock has now worked its way back to where it was before the last quarter, and Cramer thinks it could be ready to break out if it nails the numbers.

Friday: Non-farm payroll, United Technologies analyst meeting

In addition to the non-farm payroll numbers, Cramer will be listening to the analyst meeting for United Technologies, held by CEO Greg Hayes. United Technologies has been one of the largest international conglomerates with a stock that has soared since the election. Hayes will shed light on whether the move is deserved.

"A rate hike now affirms the growth that we have seen. If we get a weak jobs number, I think it will repeal a lot of the gains I expect to see next week," Cramer said.

Watch the full segment here:

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