A Dozen Stocks to Buy Next Week

We are as deeply oversold as we've ever been in the last half-dozen years -- meaning that stocks have gone down so far so fast that we're due for an oversold rally as people start buying marked down merchandise -- so we're inclined to buy things. But here's a big problem: the one question you hear on every conference call of every industrial company is, "How would you do in a recession?"

And sadly, every CEO answers it honestly -- of course, not as well as if there was no recession -- and then their stocks get killed. We saw that with Parker Hannifin (PH - commentary - Cramer's Take) yesterday. They reported a monster good number, guided up nicely, said they'll continue to buy back stock, said they saw accelerating orders -- all of which look great to me -- and then it promptly lost almost 10% of its value. Holy smokes, that's just awful!

An oversold market will temper Bernanke's severe decree, but it's something to keep in mind if you're going to buy anything next week. We want to buy because in the week after we get a cut we could get a rally, especially if we stay down here. That said, we have long since stopped putting trust in the Fed, so there's no need to be aggressive.

We've got some really important companies reporting next week that I believe are worth buying at these prices:

Apple (AAPL - commentary - Cramer's Take) reports on Tuesday, and we think it will be good. More importantly, we think their good quarter will matter will it matter, something that hasn't often been true lately. If we hear anything positive this stock should go up, especially given how oversold this market is.

We also hear from D.R. Horton (DHI - commentary - Cramer's Take) on Tuesday, a giant homebuilder. This one yields 5%. Will the dividend stay? Cramer thinks not; D.R. Horton's been really bearish, but not bearish enough.

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