Tuesday brings Best Buy’s earnings report, a historically hard quarter to game. That said, though, the company last time delivered a beat and a raise, in addition to an accelerated buyback. Will it happen again? Cramer’s confident enough to recommend spending “a small amount of money” to buy the December 44 calls to capture that potential upside. More importantly, though, listen to find out what people are buying this holiday season.
On Wednesday, use any sell-off in Joy Global , which often happens following a quarter, to buy the stock. Cramer’s still bullish on the company, and he scoffed at the profit-taking he's seen because of investors' fears of tightened Chinese interest rates. A word of caution, though: If you don’t get the dip, then just take a pass.
Thursday will host reports from General Mills , FedEx , Research in Motion , Oracle and Accenture . For General Mills, Cramer will be watching for healthy margins and a growing market share. For FedEx, it’s signs of global industrial production. He expects good things from Oracle and Accenture, but he’s a bit concerned about RIMM. The stock’s enjoyed a huge move, so he’s hoping there will be earnings to back it up. If not, expect the share price to tumble.
Also on Thursday is the Merrill Lynch's Global Industries Conference, which will feature talks from DuPont , Eaton , Tyco and Terex —all of which speak to the health of the US economy. Procter & Gamble will have its analyst day the same day, where Cramer wants to hear about new product innovation and costs.
Of course, the biggest event of the week is on Tuesday when the Federal Reserve announces its decision on interest rates. No matter what Ben Bernanke’s team does, expect the media and pundits to analyze it to death. Cramer’s recommendation? Continue to trust in Bernanke. He’s taken us this far.
Lastly, on Thursday we’ll get housing starts. While a lot of analysts want a high number, Cramer likes his housing starts low. Why? Because it means reduced supply helps to stabilize prices.
“So pray for a low number if you’re a housing bull,” Cramer said, “even if it means most of the talking heads will say it’s a negative.”
When this story published, Cramer’s charitable trust owned Accenture, Oracle and Procter & Gamble.
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