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NEW YORK (
) -- "This market will be all about what happens in Europe," Jim Cramer told the viewers of his
TV show Friday, as he laid out his game plan for next week's trading.
He said investors need to pay attention on Sunday night to find out what the European Union will do to handle its ballooning debt crisis.
Cramer said the EU needs a worldwide intervention, not just a European one, in which everyone from the U.S. to China to pitch in to bail out the bondholders left holding the bag as country after country verges on default. The European problem is solvable, he said, but without a global bailout.
On Monday, Cramer said that
, a master limited partnership with a 6.4% yield might be just the place to hide. On Tuesday, Cramer gave the nod to
, a stock that will flourish as oil prices fall around the world. Also on Tuesday is the
meeting. Will they mention a recession? Will they mention buying Euro bonds?
For Wednesday, Cramer said the beleaguered
will report, and even after two jolting quarters, Cramer said the stock, under $15, may finally be a buy. Then on Thursday, Cramer said the battleground stock of
will report, and he'd play this company's continued growth with deep in-the-money call options.
Finally on Friday,
will have Cramer's ear, as he hopes to hear from soon to be CEO Ron Johnson, former head of
retail initiative. Cramer said even a "hello" from Johnson would be uplifting for the stock.
Cramer also cautioned that the ratings agencies will also take center stage next week. They could at any time downgrade Greece, or Italy, or even the U.S. thanks to our faulty debt deal. "You can't predict these," said Cramer, but they will have profound impacts on the market.