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NEW YORK (
TheStreet) -- Good news is still bad news, Jim Cramer told his
"Mad Money" TV show viewers Friday as he laid out his game plan for next week's trading.
Cramer explained that the markets will continue to live in a bizarre world where any good economic news will spook institutional traders into thinking that higher interest rates are at hand and send the markets back into a tail spin.
Investors will need to be extra cautious with high-yielding stocks like REITs or master limited partnerships because they can be deadly if the world's economies are seen as heating up too quickly. That's why on Monday Cramer will be watching the macroeconomic news out of China and the eurozone to gauge the mood of the markets.
On Tuesday Cramer expects good things from
Dollar General(DG) because our nation's "barbell" economy still favors those at the low end of retail. Cramer will also have his eye on the
Bank of America(BOA) Global Tech Conference and the
JPMorgan Chase(JPM) Diversified Industry conference to hear which companies are leading the recovery. Also on Tuesday, a speech from the Dallas
Federal Reserve chief, which will likely be bearish for the markets on Wednesday.
Those reporting on Wednesday include
Ascena Retail(ASNA), two stocks Cramer likes on any weakness. But Cramer said he won't be paying attention to the
ADP(ADP) employment data as the data have proven to be worthless in recent months.
Thursday brings more macro data including a Philadelphia Federal Reserve speech, which will likely be more bearish than Tuesday's, and a European Central Bank meeting, which will also likely be less than overwhelming.
Finally on Friday, it's the most important news of the week, U.S. non-farm payrolls -- a number that if too good will send the hedge funds into freefall, said Cramer, but if it's too bad would create an opportunity to buy those global leaders discovered at Tuesday's conferences.
With the annual meeting of the American Society of Clinical Oncology getting underway this weekend, Cramer chose to make his "Speculation Friday" pick a small company that's doing its part to help fight cancer.