Before the opening bell Tuesday, Walgreen is scheduled to report earnings.
"This drugstore chain needs to break the string of bad news that’s kept its stock down," Cramer said. "I don’t think it can, especially with some wild competition from other, wounded drug-store chains."
The July Case-Shiller Index reading, which measures housing prices in 20 US cities, will also come out Tuesday. Cramer expects it to show no decline in prices, but warned that the bears will likely manipulate the data.
On Wednesday morning, Family Dollar will report earnings. Cramer said the company will shed light on the state of the consumer, as FDO tends to do well when the consumer is squeezed.
McCormick , which Cramer called the "number one play on herbs, spices and marinades," reports earnings Thursday morning. He would buy this company on a pullback because he thinks it's one of the "most consistent companies on earth" and has been a "huge moneymaker."
Two big data points will also be released Thursday, Cramer said: jobless claims and the Chicago purchasing manager's index. He said jobless claims needs to improve over last Thursday or President Obama may face further criticism. And the PMI is "hugely important" because the bulls have said that August is a weak month for the economy, but things improved in September. Therefore, a gain in the PMI would help justify the September rally.
Finally, Cramer noted there are a slew of initial public offerings on the way. He likes Elster, a German utility, because it is part of the green-energy boom. He would also look at Campus Crest Communities, a high-quality student-housing real estate investment trust, which he expects to have a high dividend yield. Lastly, he recommended China Ming Yang Wind Power, a play on wind power, because it is not state-owned.
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