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  Opening Segment #1:
Cramer's Game Plan for Next Week
  Friday, June 17, 2016
 
 

 

   
 

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Jim Cramer's Game Plan for Next Week, and General market comments, below... 

 
 

Note:  Given the importance of the Game Plan for next week, we have recapped it completely verbatim: word for word, for your benefit, below...

   Jim's Quotes from this segment:  

Jim:
          
This whole situation, it's starting to feel a little Greek to me. I'm talking about this odd thing were seeing… Brexit, where we are all living, the fear of the unknown… whether or not Britain will vote to leave the European Union next week. But even if that unknown event happens, I'm sorry, I've got news for you, flash… stop trading… it won't lead to the chaos that many seem to be expecting. Yet here we are, after yet another day, where the market was totally immersed and what will happen a week from now in the United Kingdom, with the Dow slipping 58 points, the S&P declining 0.33%, and the NASDAQ plummeting 0.92%. I say, we've seen this movie before, except the last time we went through this kind of thing, it was a heck of a lot worse. I've got to be honest with you. I mean, I really don't fear the idea that the UK, a country with its own currency, might divorce itself from Europe, a continent with its own currency. No, no… what was really scary was the prospect of a euro break up, with Greece leading the way. A few years ago, by the way, I was genuinely concerned about Greece, Ireland, Spain, and especially Italy – the third largest bond market in the world - defaulting on their debt. Those were real unknowns. And that would have reverberated around the world.

 

Jim:    But the European Central Bank was ready and ultimately solved all those dilemmas, maybe not to your satisfaction, but certainly to the satisfaction of American stock investors. I think the same thing is going to happen again. If the UK leaves the European Union, it will be dealt with. So be it. Whatever happens, it likely won't drag out the way Greece did. But it will be slow motion, it will be handled by adults. The pajama traders, the hedge funds that decide our markets should go down and lock stop with Europe's, they are going to take their self-fulfilling actions, believe me. And you know what? You're going to get your chance to buy high quality stocks at bargain-basement prices. It might have seemed unimaginable a few weeks ago, including two that you're going to hear about tonight. Remember, this isn't Myanmar with hyper inflation. It's not gigantic banker nation defaults. It's a country with its own currency buoying out of a union in some Way that will be more orderly then some people think it will happen. Nevertheless, we'll be ready, and we'll be waiting here, pressing the case for buying stocks on dips, provided that the earnings aren't directly impacted by the vote, meaning I want to avoid the financials like the plague.

To help you stay focused, just remember, my list is robust, with yield and growth. Stocks like AT&T, General Mills, Bristol Myers, or American Electric Power. And will be ready. Of course, we don't want the Brexit vote to blind us to other opportunities, so let's just go right to our Game Plan…

MONDAY

Now granted, on Monday, it's going to be the same thing. We are going to be trading almost exclusively off the latest polls. So it'll be like the betting lines. I don't know, I'm waiting for the fantasy football Brexit. That I would trust.

TUESDAY

Carmax Inc.

Tuesday is filled with earnings reports that will provide us with a good read on the economy. As we know from the Fed's statement this week, it's anything but robust. The two areas of the economy, though, that appear to be carrying our country - autos and housing - on full display when Carmax and Lennar both report. Carmax has been making a comeback of late. We need to hear as much about the state of auto loans – many think are a ticking time bomb – as we do about outright sales.

Lennar, Inc.

As for Lennar, the housing market has been hanging in, at 100,000 homes, with housing start numbers this morning confirming that figure. Lennar will give us some more great granularity. It will give us a read on cost of goods, and labor, the dearth of supply, and the availability of credit. They always talk about it.

Adobe Inc.

After the close, we're going to hear from Adobe, which is one of the last remaining independent mobile, social, and cloud plays out there, now that Microsoft has snapped up LinkedIn. I bet Adobe blows away the numbers. That's how strong it's business is. For the record, I'm acutely aware of just how painful right now tech's become. The price target cuts for Apple – they resonate loudly with me, even as I don't fear the Chinese iPhone blockage, after speaking to the company personally this morning. I know sales aren't that strong. So is everybody else. Smart guys tell me to be careful. I'm going to tell you to be careful. Apple is slated to go, and it's going to go lower. I think it can't really bottom until we get a slew of analyst downgrades, not just price target cuts. I said that same thing every day since this darned quarter, the last quarter was… every time we talk about Apple.

Meanwhile, Alphabet has been under pressure; analysts today question the strength of search. Facebook can't pull out of a tailspin that started when short seller, Andrew Left, called it overvalued. So even Oracle's fantastic quarter last night - a true growth acceleration for its cloud business – had no real pin action.

Still, I like Adobe. I especially like it if a Brexit poll pulls it down on Monday.

FedEx Inc.

We also get results from FedEx on Tuesday night, and this stock's been consolidating ever since a blowout quarter. I don't know how it could be that blowout quarter again, though. So I'm on the sidelines.

WEDNESDAY

Federal Reserve – Janet Yellen speech

Wednesday Janet Yellen speaks, and the bulls want to hear that the Fed chair hasn't changed her mind that much since she spoke a couple of days ago. I know that sounds funny, but I mention that because so many critics of the Fed say that it has become radically inconsistent. I totally disagree. Under Yellen, the Fed has been consistent with the data, which is all she said she was going to be, and you can ask for.

U.S. Oil Inventories report

We get oil inventories at 10:30 AM, half an hour after Yellen starts talking. And I reiterate that oil's in a tight range here. If the inventories are low, we're going to $50. If they're high, we're going to $45. Yep, we're trapped. That's the way it is.

Bed Bath & Beyond Inc.

After the close Wednesday, Bed Bath & Beyond reports. It's been a real loser. And I'm hoping they put some color on their decision to buy One Kings Lane. That's an online furniture and catalog company. Something they failed to do when they announce the acquisition earlier this week. I am so glad, though, that Bed Bath is no longer just standing there, buying back its own stock, because that's done nothing for the shareholders, as anyone who looks at the chart can tell.

Red Hat Inc.

We also hear from another cloud-based company that's consistently put up terrific numbers. And that's Red Hat. And this software-as-a-service play will most likely report another very good quarter. Red Hat is often misunderstood though. I don't want you to pull the trigger until you have listened to the conference call.

THURSDAY

Accenture Inc.

Thursday, Cramer uber-fave, Accenture, reports. And this consulting company and systems integrator is doing so well that it might make sense to buy some stock before the quarter, and then buy more if that Brits vote to leave The European Union. Because even though Accenture has an excellent international business, I don't think it will skip a beat.

British Eurozone Exit Vote

Actual vote on Thursday.

FRIDAY

Finally on Friday, we'll get a reaction to the Brexit vote. Maybe we'll get a few winks overnight. I doubt it. Again, I think that this things gotten overblown beyond all proportions but, if you prepared for this disaster with your list of unaffected buys, as opposed to affected sells, then you'll be ready for anything that the Brits throw at us.

Here's the bottom line…

▼   ▼   ▼   ▼   ▼

Next week is about Brexit. Don't fool yourself. Sure, some earnings here, some Fed speak there, a little oil sprinkled in. But the UK is in control. Just don't forget who won the Revolutionary war. We'll win on this one too.
 

Our convenient streamlined recap format:

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[end of segment]

 

 

Note:   Pertaining to these stock recommendations & any other, Jim Cramer recommends that we do our homework before investing.   We've provided a free workbook at this StockHomework101 site for this,   here >>

 

  UPDATED!  BOUGHT Home Depot & KeyCorp ::  SOLD General Mills and Coach - for the ActionAlertsPlus portfolio!...  
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  New FREE stock homework website and workbook...  

[end of segment]

*Note:  An asterisk next to a stock indicates that Jim owns it currently for his charitable trust.  If you are interested in a particular stock, Jim Cramer recommends that you always do the homework on each stock, and that you wait at least one trading week after his show recommendation to evaluate whether it is a good stock trade or investment for you. 

Market Results today:

Dow:  - 58

Nasdaq:  - 45

S&P 500:  - 7

 

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