When in doubt, do nothing. That was Jim Cramer's advice to his Mad Money viewers Friday. We're at the tail end of a weak moment for stocks, Cramer explained, and that means investors shouldn't try to be a hero when earnings season kicks off next week.
Cramer's game plan for next week started off on Monday with the weekend box office totals for "No Time To Die," the latest James Bond film. If ticket sales are up, expect AMC Entertainment (AMC) to be up as well.
Over on Action Alerts PLUS, Bob Lang and Chris Versace explain why they exited their positions in American Eagle Outfitters (AEO) and Facebook (FB) this week, what they think of the jobs data and what they're expecting from next week's banks earnings. Check out their latest trading strategies and investment ideas.
Wednesday marks the beginning of earnings season, with JPMorgan Chase (JPM) , BlackRock (BLK) and Delta Air Lines (DAL) reporting. Cramer felt JP Morgan had run up ahead of earnings, but was bullish on BlackRock and Delta.
Thursday will see a slew of bank earnings, including Morgan Stanley (MS) , Citigroup (C) , Bank of America (BAC) and Wells Fargo (WFC) , along with Cramer fav Domino's Pizza (DPZ) and Walgreens Boots Alliance (WBA) . Cramer liked all of the financials, and Domino's, but expected Walgreens to be horrible.
Finally, on Friday, we'll hear from Goldman Sachs (GS) , a stock Cramer warned not to chase higher, and J.B.Hunt undefined, our nation's third largest trucking company, who should be able to shed some light on the truck driver shortage.
In a special interview, Cramer checked back in with Ryan Petersen, founder and CEO of the privately-held Flexport, for an update on the global shipping industry.
Petersen said there are currently 51 ships anchored at U.S. ports, waiting to be unloaded. And while that number is less than the peak over 70 a few weeks ago, it's not zero, where it should be.
Many people imagine a global supply chain that's filled with technology and super efficient. But Petersen noted that it largely relies on old-school ways of working. And while Flexport has technology that can greatly improve efficiency, we're experiencing a complex, systemic problem that is bigger than one company can solve.
What will it take to solve the problem? Petersen said infrastructure improvements would certainly help over the long-term, but what we need to be worried about right now is the upcoming holiday season, which is only 78 days away. Retailers need their goods on store shelves and not stuck in containers.
When asked why ships couldn't just use East Coast ports like Philadelphia, Baltimore or Richmond, Petersen noted that the longer journeys would actually be less efficient than even the unloading delays. Plus, many ships are too large to fit through the Panama Canal.
Off the Charts
In the "Off The Charts" segment, Cramer circled back to colleague Larry Williams to see what the market's seasonal patterns have in store for us next. Viewers may recall that Williams accurately predicted the September swoon, which occurs like clockwork every year from mid-September into October.
According to Williams' analysis, the market should be poised to rally at the end of October. This pattern has been consistently seen almost every year from 1923 through 2020, Williams noted. An analysis of the market's cycle forecast confirmed that a rally is likely.
So when should investors buy in? According to Williams, buying on Nov. 1 and holding for six days is a pattern that has worked during 30 of the past 31 years, while producing some of the largest gains.
In his "Homework" segment, Cramer followed up on a stock that stumped him during earlier shows. He said that Element Solutions (ESI) , formerly known as Platform Specialty Products, is a specialty chemicals maker whose business has gotten a lot better in recent years.
Platform Specialty began as a roll-up company, one designed to make a lot of acquisitions and profit from the synergies. But Cramer said in recent years, the company has divested in some areas to concentrate on electronics and industrial chemicals as well as those in the oil and auto industry. The result has been improving organic growth.
Chipping in for the Infrastructure Bill
In his "No Huddle Offense" segment, Cramer applauded Commerce Secretary Gina Raimondo for her efforts to secure $52 billion in the infrastructure bill to build new semiconductor foundries.
The U.S. was once the world leader in semiconductor manufacturing, but after decades of outsourcing, our country has fallen woefully behind and is now beholden to Taiwan, Malaysia and other countries. The auto industry has already lost billions from a shortage of semiconductors and it's a matter of national security, Cramer said.
Raimondo knows the seriousness of this problem, Cramer said, and that's why she's pushing hard to get the funds we need to solve this problem and make the U.S. a leader again.
Here's what Cramer had to say about some of the stocks that callers offered up during the "Mad Money Lightning Round" Friday evening:
Logitech International (LOGI) : "They're doing a great job, but let it come down and find a bottom."
LivePerson (LPSN) : "They lowered guidance and that's why it's not going higher."
NovoCure (NVCR) : "This is a wild stock. I'm not backing away from it, though."
Moderna (MRNA) : "Everyone got excited about this one, then it peaked. We need to wait for it to come down."
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