This has become a treacherous stock market, Jim Cramer cautioned his Mad Money viewers Friday. But while the declines might not be over, some bargains are being created.

Cramer reminded viewers this bear market was created by Federal Reserve chair Jay Powell in early October, and only he has the ability to fix it by not hiking interest rates next week and instead looking at the data, which warrants a wait-and-see approach.

Cramer's game plan for next week begins on Monday with Johnson & Johnson (JNJ - Get Report) , which fell over 10% today after a report the company covered up evidence of carcinogenic asbestos in its baby powder products. Even if true, Cramer said the selling is overdone. Both Oracle (ORCL - Get Report) and Red Hat (RHT) also report on Monday. Cramer said he's not a fan of Oracle, but strong numbers from Red Hat may give IBM (IBM - Get Report) a boost.

Next, on Tuesday, Cramer will be watching Darden Restaurants (DRI - Get Report) , which should post good results, FedEx (FDX - Get Report) , which likely won't, and Micron Technologies (MU - Get Report) , which needs to see its earnings estimates lowered. Cramer recommended Broadcom (AVGO - Get Report) or Advanced Micro Devices (AMD - Get Report) as an alternative.

Wednesday we'll hear the from the Fed and Cramer said he hopes the central bank changes its mind on interest rates. If not, a deepening bear market is likely to continue.

Thursday brings earnings from Nike (NKE - Get Report) , a company Cramer said has the best story to tell of the week.

Finally on Friday, CarMax (KMX - Get Report) will be reporting and Cramer said this is the part of the economy he's worried about. He doubted CarMax's results will be inspiring.

Johnson & Johnson is a holding in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells JNJ? Learn more now.

Bearish Sentiment

With today's latest investor surveys pointing to the most bearish sentiment in over five and half years, the bottom must be close at hand, right? Not so fast, Cramer cautioned.

The last time investors were this negative was 2013, a time that turned out to be a terrific buying opportunity. But Cramer noted that stocks were really the only game in town in 2013. Today, bank CD's yield 3%, and are risk-free, making them a viable alternative for those who can't stomach the volatility.

That doesn't mean there aren't bargains to be had. Just look at today's action in Johnson & Johnson, down 10%, Costco (COST) , down 8.5%, and Adobe Systems (ADBE - Get Report) , which fell 7.2%. All of these are broken stocks, not broken companies, Cramer said, and for those with a long-term time horizon they represent a lot of value.

Executive Decision: Starbucks/Uber

In a special "Executive Decision" segment, Cramer sat down with Kevin Johnson, CEO of Starbucks (SBUX - Get Report) , and Dara Khosrowshahi, CEO of Uber, on location at Starbucks' newest Roastery in New York City.

Johnson said the Roastery represents the pinnacle of all things coffee and this newest location joins those around the globe in Seattle, Shanghai and Milan. And Starbucks' expanded partnership with Uber will bring even more of the Starbucks experience right to your door.

Khosrowshahi said that while many Starbucks customers love coming to locations like the Roastery, there are times when delivery can provide a lot of value. Both companies are working to integrate their technology for a seamless customer experience.

When asked about China, Johnson said that Starbucks has been in China for over 20 years and has deep respect for the people and the culture there. He added that Starbucks continues to do very well in China.

And finally, when asked about the rebuilding of Uber's culture, Khosrowshahi said that sometimes when you're growing fast, you don't take the time to focus on your culture, and that's what happened to Uber. He said he now has a great team in place and is rebuilding a culture of respect and diversity. Uber is at a much better point in time than they were, he said.

Executive Decision: Centene 

In his second "Executive Decision" segment, Cramer also once again sat down with Michael Neidorff, chairman and CEO of Centene (CNC - Get Report) , the healthcare provider that saw its shares fall 4% today amidst the broader market sell off.

Neidorff said he couldn't think of better things to say about their business at the moment. He said Centene is growing in both new and existing markets, they're seeing margin expansion and most importantly, they're improving outcomes while lowering costs. "We're hitting all the things we need to hit," he said.

When asked about a court case in Texas that aims to declare the Affordable Care Act unconstitutional, Neidorff said given the current judge in the case, the case will likely succeed, but will ultimately be a non-event and it will surely be overturned on appeal.

Finally, when asked about Affordable Care enrollments for this year, Neidorff said they are already ahead of where they were at this time last year and over 80% of current participants have already re-enrolled for next year.

Lightning Round 

In the Lightning Round, Cramer was bullish on Children's Place (PLCE - Get Report) , Yeti Holdings (YETI) , Delta Air Lines (DAL - Get Report) , Southwest Airlines (LUV - Get Report) and Bank of America (BAC - Get Report) .

Cramer was bearish on HealthEquity (HQY - Get Report) and Synchrony Financial (SYF - Get Report) .

Executive Decision: Okta

For his final "Executive Decision" segment, Cramer also welcomed back Todd McKinnon, co-founder and CEO of Okta Holdings (OKTA - Get Report) , the cybersecurity company with shares up 156% over the past year.

McKinnon said the cloud remains a big trend for companies, and even non-tech companies are racing to build the best apps and provide customers with the best experiences. Okta's identity cloud helps make those services more convenient and more secure.

When it comes to preventing data breaches, McKinnon said that knowing who people are is vital, which is putting Okta front and center in the cybersecurity wars.

Cramer said in a regular market, this stock would be a lot higher than it is, which makes it a buy.

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At the time of publication, Cramer's Action Alerts PLUS had no position in the stocks mentioned.