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NEW YORK (
TheStreet) -- Don't be so pessimistic that your lose sight of the positives, Jim Cramer told a live studio audience during his annual "Salute To The Troops" on
Cramer said the fiscal cliff is indeed a serious issue, but it may not mean the end of stocks as we know them.
That's why Cramer said he'll be watching for movement on the fiscal cliff issue, but he'll also be paying attention to a plethora of earnings and economic data during next week's trading.
He said that the week starts on Monday, when
Beazer Homes(BZH) and
D.R. Horton(DHI) will provide an update on the home building market.
Then on Tuesday, a slew of retailers including
Dick's Sporting Goods(DKS),
TJX Stores(TJX) will be reporting. Each will tell a story said Cramer, whether its Dick's with outdoor apparel, Home Depot's reaction to Hurricane Sandy or Michael Kors and Saks with a read on high end fashions.
Wednesday brings earnings from more retailers, including
Abercrombie & Fitch(ANF),
Petsmart(PETM). Cramer said he only expects good things from Williams-Sonoma and perhaps Petsmart.
Turning to Thursday, it's
Ross Stores(ROST) taking center stage. Cramer said that he'd be a seller ahead of Wal-Mart, Gap and Target as these retailers could be hurt by Hurricane Sandy. He said Ross may see a bounce off its earnings.
Finally on Friday, Cramer said
Foot Locker(FL) will report and provide an excellent look into the health of
Put Excitement in Your Portfolio
In a grim market like this one, investors need some stocks in their portfolios to keep them excited, Cramer told his audience, which is why speculating on biotech is just what the doctor ordered. Cramer said a stock like
Tesaro(TSRO) just may fit the bill.
Tesaro has not been a public company for very long, noted Cramer, but it comes with great bloodlines. The company's management already has a proven track record of building companies and selling them for hefty profits. So far, shares of Tesaro are up a modest 11% from the initial public offering price of $13.50 a share.