How high can this market ultimately go? Jim Cramer told his Mad Money viewers Friday that we're seeing a once-in-a-lifetime move and the "beast" of a bull market is likely to return again next week.
Cramer's game plan for next week starts on Tuesday, after the market takes a much needed holiday on Monday.
Citigroup (C) - Get Citigroup Inc. Report will be among the first to report earnings, and Cramer said he expects big stock buybacks to offset any tax-related losses. He was also bullish on UnitedHealth Group (UNH) - Get UnitedHealth Group Incorporated Report and railroad CSX (CSX) - Get CSX Corporation Report , both of which continue to be strong.
Next, on Wednesday, Bank of America (BAC) - Get Bank of America Corp Report and Goldman Sachs (GS) - Get Goldman Sachs Group, Inc. Report will be reporting. Bank of America gains the most from rising interest rates, while Goldman continues to be terrific. Also keep an eye on ASML Holdings (ASML) - Get ASML Holding NV Report , the semiconductor equipment maker. If orders are strong, or are being canceled because of too much capacity, that will be bad news for chipmakers like Micron Technology (MU) - Get Micron Technology, Inc. Report .
Thursday brings earnings from Morgan Stanley (MS) - Get Morgan Stanley Report , which will have a tough time topping the high bar set by Citi and Goldman. We will also hear from PPG Industries (PPG) - Get PPG Industries, Inc. Report , which should be bought on any weakness, and IBM (IBM) - Get International Business Machines Corporation Report , which continues to slowly turn itself around.
Finally, on Friday, we'll get to listen to one of the most important conference calls around, from Schlumberger (SLB) - Get Schlumberger NV Report , a company that's been spot on about the direction of oil and our country's involvement in it.
Cramer and the AAP team are ringing the register on Nucor (NUE) - Get Nucor Corporation Report for a gain of about 20%. Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts PLUS.
Executive Decision: Alder BioPharmaceuticals
For his "Executive Decision" segment, Cramer spoke with Randall Schatzman, co-founder, president and CEO of Alder BioPharmaceuticals (ALDR) - Get Alder Biopharmaceuticals, Inc. Report , a stock that shot up 40% this week on the heels of positive clinical trial results.
Schatzman explained that the results that were just released were Phase III results for chronic migraine suffers. On average, these patients had 16 episodes a month. With Eptinezumab, migraines decreased by 50% on day one of the trial and 15% of patients reporting zero incidents for the entire 12 weeks of the trial. All with just a single dose.
Schatzman added that when data was release last June, investors were focused on the drug's primary endpoint, where it came in at the low end of expectations. The thinking was that Eptinezumab might not be competitive. But after this round of tests, it's clear the drug is approvable and will likely be approved next year.
Schatzman said while its true that their drug is an injection or infusion and not a pill, patients with chronic migraines need relief and they don't care what form that relief comes in.
Cramer said he has high hopes for Alder BioPharmaceuticals.
The Same or Different?
The four most dangerous words in investing have always been "this time it's different," Cramer told viewers, but in reality, "this time it's the same" can be just as bad.
Back in the old days, history did seem to repeat itself quite often. In 2000, there were scores of young, profitless tech companies with sky-high valuations. The pundits predicted a bubble and they were proved right.
But then a second generation of tech companies emerged, Facebook (FB) - Get Meta Platforms Inc. Class A Report , Amazon.com (AMZN) - Get Amazon.com, Inc. Report , Apple (AAPL) - Get Apple Inc. Report , Netflix (NFLX) - Get Netflix, Inc. Report and Alphabet (GOOGL) - Get Alphabet Inc. Class A Report , known as the "FANG" stocks. You had to truly believe in social media and e-commerce and the smart phone to stick with these companies, but in the end, this time really was different.
Which brings us to this week's scathing criticisms of Warren Buffett for not endorsing bitcoin. Some called Buffett old-fashioned for not jumping on the crypto bandwagon, but Cramer said Buffett's never been a short-term player and no one should expect him to be one now. If you've made money in bitcoin, great, but that doesn't mean it's the only game in town. No matter how much you've made so far, chances are, Buffett's made slightly more over his illustrious career.
Cramer and the AAP Team dive into bank earnings and the outlook for 2018. Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts PLUS.
High Rollers Returning to Macau
The global economy continues to strengthen, Cramer told viewers, and that means more gambling in Macau, the main driver of earnings for Wynn Resorts (WYNN) - Get Wynn Resorts, Limited Report and Las Vegas Sands (LVS) - Get Las Vegas Sands Corp. Report .
Macau has been a tough place to be the past few years, as Chinese officials have cracked down on gambling and corruption, sending Macau revenues down 34% in 2015. But since then, the high rollers have slowly been returning, and with both companies having new casinos at the ready, both stocks have been on fire.
Of the two, Cramer said he still prefers Wynn over Las Vegas Sands. Sands trades at 22 times earnings, while Wynn, the better run company, trades at just 20 times earnings, even though it deserves a premium.
For those looking for a domestic play, Cramer said he'd go with MGM Resorts (MGM) - Get MGM Resorts International Report , which could soon benefit from a court ruling on the legalities of sports betting outside of Las Vegas. Shares of MGM just for just 19 times earnings.
Off the Tape: Faherty Brand
In his "Off The Tape" segment, Cramer sat down with Alex Faherty, co-founder and CEO of the privately-held Faherty Brands, a boutique apparel maker with just six locations across the country.
Faherty explained that his company was founded by himself, a finance guy, and his twin brother, who just happens to be a great designer. He said they believe that clothing should last a lifetime and that's why they offer a lifetime guarantee and are happy to replace any item that wears out over time.
To achieve their guarantee, Faherty maintains tight controls on their manufacturing and take a hands-on approach to their designs.
When asked how his company secured space in high-end locations, Faherty explained that with so many stores closing, there are opportunities for small brands to get short-term leases and still be profitable. Faherty gets 40% of sales from e-commerce, where they use Shopify (SHOP) - Get Shopify, Inc. Class A Report to maintain their website.
In the Lightning Round, Cramer was bullish on Mastercard (MA) - Get Mastercard Incorporated Class A Report , Estee Lauder (EL) - Get Estee Lauder Companies Inc. Class A Report , Waste Management (WM) - Get Waste Management, Inc. Report , Raytheon (RTN) - Get Raytheon Company Report , General Dynamics (GD) - Get General Dynamics Corporation Report and Cimarex Energy (XEC) - Get Cimarex Energy Co. Report .
Cramer was bearish on Boston Omaha (BOMN) - Get Boston Omaha Corp. Class A Report , Citizens Financial Group (CFG) - Get Citizens Financial Group, Inc. Report , Orbital ATK (OA) and Gulfport Energy (GPOR) - Get Gulfport Energy Corp Report .
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At the time of publication, Cramer's Action Alerts PLUS had a position in NUE, C, SLB, FB, AAPL, GOOGL.