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NEW YORK (
TheStreet) -- With President Obama once again lashing out against Wall Street, Jim Cramer told the viewers of his "Mad Money" TV show Friday that they need to re-examine their portfolios against this new wave of political uncertainty.
In his "game plan" segment, he declared much of next week a "no-buy zone," saying buying stocks next week is strictly forbidden.
Cramer called the new-found political risk "huge," saying that if either
Chairman Ben Bernanke or Treasury Secretary Tim Geithner lose their posts, the markets will be in for a "serious correction" of at least 1,000 points or more. Cramer said investors simply can't wade back into stocks until Bernanke has once again been confirmed as Fed chairman.
Given the new wave of uncertainly, Cramer gave a muted, "listen-only" game plan, where he said investors should listen and learn, but refrain from buying. On Monday,
, a stock which Cramer owns for his charitable trust,
Action Alerts PLUS
, reports its earnings, followed by presumably a major product introduction on Wednesday.
Cramer said the trend has been that Apple sells off ahead of its new products, so he'd wait until after Wednesday before considering a new position.
Along with Apple, a flurry of other names report next week. Cramer said he'll be listening to many of them, notably
Johnson & Johnson
on Wednesday; and