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NEW YORK (TheStreet) -- As the market's Federal Reserve-inspired rally rages on, Jim Cramer told his Mad Money viewers Friday that investors shouldn't get greedy or complacent and need to take some profits and raise some cash for the next inevitable speed bump.
That speed bump may begin on Monday, when Cramer will be watching the latest manufacturing PMI number out of China. Anything below 51 may be a problem for U.S. stocks.
Next, on Tuesday, Cramer will have his eyes on G-III Apparel (GIII) - Get G-III Apparel Group, Ltd. Report and McCormick (MKC) - Get McCormick & Company, Incorporated (MKC) Report, but burger chain Sonic (SONC) , already up 58% for the year, is the biggest winner thanks to cheaper gasoline.
Wednesday brings earnings from Paychex (PAYX) - Get Paychex, Inc. Report, which could see analyst upgrades ahead of a potential Fed interest rate hike, and two stocks still in the penalty box, Five Below (FIVE) - Get Five Below, Inc. Report and PVH (PVH) - Get PVH Corp. Report.
Then, on Thursday, it's Lululemon Athletica (LULU) - Get Lululemon Athletica Inc (LULU) Report, a stock which Cramer owns for his charitable trust, Action Alerts PLUS, and GameStop (GME) - Get GameStop Corp. Class A Report reporting. Cramer is bullish on Lulu, but said the play for GameStop is to buy Take-Two Interactive (TTWO) - Get Take-Two Interactive Software, Inc. Report if GameStop is strong.
Finally, on Friday, it's two lackluster names, BlackBerryundefined and Finish Line (FINL) . Cramer chose to take a pass on both stocks.
For "Speculation Friday," Cramer looked into Papa Murphy's (FRSH) - Get Papa Murphy's Holdings, Inc. Report, a pizza company with a red-hot stock that's up 42% for the year, 22% of that just this week.
It's no secret that cheaper gasoline is helping the entire restaurant group, Cramer said -- see the Darden Restaurants (DRI) - Get Darden Restaurants, Inc. Reportquarter for proof of that -- but Papa Murphy's has a lot more going for it.
First, the company has a unique business model, one where customers walk into a store, get their pizza made but not cooked, then take it home and cook it themselves. This "take and bake" model gives customers more value and freshness while Papa Murphy's gets lower costs and better margins.
But most exciting to Cramer is the company's growth. With just under 1,500 locations today, primarily in the northwestern U.S., management says ultimately the chain could support over 4,500 locations nation wide, that's triple its current footprint.
Shares trade at 26 times earnings, comparable to Domino's Pizza (DPZ) - Get Domino's Pizza, Inc. Report, but with much faster growth. Papa Murphy's is a speculative investment, however, so investors are advised to only buy on weakness and use limit orders.
The Art of Nike
The art of the conference call may be lost on some companies but not with Nike (NKE) - Get NIKE, Inc. (NKE) Report, which not only delivered a terrific quarter that sent shares up 3.7% but did so in style.
While many companies found themselves stuck in the morass of currency woes, Nike chose to tell its story on a constant currency basis, letting the analysts figure out for themselves the ups and downs of the U.S. dollar versus the rest of the world.
Did Nike complain about the West Coast port strike? Nope. The company just admitted that there are still a ton of Nike products yet to be unloaded; when they are, sales will be even stronger.
Perhaps the only apology the company did make was for weaker-than-expected running shoe sales, but Cramer noted that even that number was pretty darn good. Nike delivered not just growth but profitable consistent growth that investors have come to depend on, which is why Nike continues to be an amazing stock.
Executive Decision: Dale Schenk
For his "Executive Decision" segment, Cramer spoke with Dale Schenk, president and CEO of Prothena (PRTA) - Get Prothena Corp. Plc Report, a biotech with shares that roared 32% today on positive news about its drug, PRX002, to treat Parkinson's disease.
Schenk said that while there are many drugs to treat the symptoms of Parkinson's, to date there is nothing that targets the progression of the disease. He said Prothena's drug targets the protein that agitates the nerve cells and neutralizes it.
In the company's Phase I study, which included 40 healthy volunteers, the results were extraordinary, with levels of the "bad actor" protein reduced by 96% after only a single dose. Schenk cautioned that it is still very early in the testing process for PRX002, and the current study is only looking at the safety and tolerability of the drug.
Cramer agreed, noting that Prothena is a very speculative stock that is very early in its development. But he also acknowledged that there is a tremendous unmet need in this area if the company is successful.
In the Lightning Round, Cramer was bullish on Celladon (CLDN) , Sirius XM Radio (SIRI) - Get Sirius XM Holdings, Inc. Report, Southwest Airlines (LUV) - Get Southwest Airlines Co. Report, Spirit Airlines (SAVE) - Get Spirit Airlines, Inc. Report, American Airlines (AAL) - Get American Airlines Group, Inc. Report, Whole Foods Markets (WFM) and Centene (CNC) - Get Centene Corporation Report.
Cramer was bearish on Achillion Pharmaceuticals (ACHN) - Get Achillion Pharmaceuticals, Inc. Report, DuPont (DD) - Get DuPont de Nemours, Inc. Report, King Digital Entertainment (KING) and Virgin America (VA) .
Biotech Victory Lap
Stocks don't go up in a straight line, Cramer reminded viewers, which is why it's time to take a victory lap and take some profits in two biotech names, Regeneron (REGN) - Get Regeneron Pharmaceuticals, Inc. Report and Biogen Idec (BIIB) - Get Biogen Inc. Report.
Cramer's recent buy recommendations on both these stocks has been spot on, but the easy money has now been made and investors risk "round tripping" if they don't take some gains off the table, he warned.
When biotech has its bad days they tend to be severe and ugly, Cramer concluded. Don't be greedy and lose your hard fought gains.
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At the time of publication, Cramer's Action Alerts PLUS had a position in LULU.