Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.
NEW YORK (TheStreet) -- One of the most volatile weeks on Wall Street in recent memory finished with a whimper, not a bang, Jim Cramer told his Mad Money viewers Friday, and that means it's time to start looking towards next week's game plan.
Cramer said he'll be watching the Chicago PMI number on Monday, as this will be yet another data point the Federal Reserve will use to determine the direction of interest rates.
Then, on Tuesday, it's back to earnings, with Dollar Tree (DLTR) - Get Dollar Tree, Inc. Report and semiconductor maker Ambarella (AMBA) - Get Ambarella, Inc. Report reporting. Cramer still felt that Dollar Tree was a buy, despite a rare miss from rival Dollar General (DG) - Get Dollar General Corporation Report, but said that Ambarella just won't work in a tough market like this one.
Next, on Wednesday, it's G-III Apparel (GIII) - Get G-III Apparel Group, Ltd. Report and Five Below (FIVE) - Get Five Below, Inc. Report reporting along with the latest oil inventory numbers. Cramer was bullish on G-III, especially on any weakness, and saw opportunity with Five Below. He also advised trimming positions in any oil stocks ahead of the inventory numbers.
Then, on Thursday, it's Campbell's Soup (CPB) - Get Campbell Soup Company Report and Medtronic (MDT) - Get Medtronic Plc (MDT) Report reporting, along with Verifone (PAY) . Cramer was bullish on all three. He was not bullish on coal equipment maker Joy Global (JOY) , however, but said this company does know China so it's worth listening to the conference call.
Finally, on Friday, it's the non-farm payroll numbers from the Labor Department. If the economy surges, then expect stocks to react negatively, creating opportunities to buy, buy, buy using limit orders on the weakness created.
What We Learned This Week
This week was indeed a monumental one for the stock market, Cramer told viewers, with the Dow Jones Industrial Average traveling near 10,000 points up and down over the past few days, only to end just about where it began.
So what are the lessons investors can learn from this volatile week of trading? First, Cramer reminded everyone never to use market orders. Limit orders, where you specify a minimum or maximum price, would've prevented you from falling victim to Monday's flash crash where the markets opened down 1,089 points.
Cramer's next lesson was to always have a backup brokerage account, just in case your main broker cannot complete your orders -- as many weren't able to do on Monday at the open.
Tuesday brought another important lesson: There's always a better time to sell. Yes, stocks were down big on Monday, but if you were calm and waited until Tuesday, you sold at far better prices.
Wednesday's lesson was that sentiment matters. Reckless comments from the Fed helped send the markets lower on Friday, but three trading days later, more responsible comments from the Fed helped ease fears and send stocks higher.
What did Thursday teach us? It showed us that bad bets can bring down entire hedge funds. Once that stress is relieved, stocks can snap higher. No one knows for sure if a fund was forced to liquidate on Thursday, but it sure felt like it as the oil stocks staged a surprise rally.
So now it seems like the turmoil is behind us, Cramer concluded, but let's not forget these valuable lessons.
Time to Sell FANG?
Is it time to declare victory and sell FANG, the high-growth collection that is Facebook (FB) - Get Facebook, Inc. Class A Report, Amazon.com (AMZN) - Get Amazon.com, Inc. Report, Netflix (NFLX) - Get Netflix, Inc. (NFLX) Report and Google (GOOGL) - Get Alphabet Inc. Class A Report? Of course not.
Cramer said Facebook, a stock he owns for his charitable trust, Action Alerts PLUS, remains one of the fastest growing and most consistent stocks out there, yet it trades for just one time its growth rate.
Then there's Amazon and Netflix, two more stocks with strong growth and market caps that are just too small given their market opportunities.
Finally, there's Google, another Action Alerts PLUS core holding that, thanks to a brilliant reorganization, will let its true earnings leverage shine through. Google trades at just 20 times earnings, after all.
Off the Charts
In the "Off the Charts" segment, Cramer went head to head with colleague Bruce Kamich over the health of the steel sector, which may finally be bottoming.
Kamich first looked at a daily chart of the Market Vectors Steel ETF (SLX) - Get VanEck Vectors Steel ETF Report, noting that the ETF just retested and held its 2009 lows. The on-balance volume however, is indicating a small uptick. Keep an eye on the $26 dollar level, Kamich suggested.
Kamich then looked at U.S. Steel (X) - Get United States Steel Corporation Report, noting here that the on-balance volume is improving as well. He felt this stock would trade sideways before starting to rebound.
Turning overseas, Kamich noted that Nippon in Japan, Posco (PKX) - Get POSCO Sponsored ADR Report in South Korea and ArcelorMittal (MT) - Get ArcelorMittal SA ADR Report in Europe are all at the lowest levels of the decade, indicating a bottom may be at hand.
Cramer said he's intrigued by the charts but remains cautious. Unlike 2008, when the U.S. economy was in trouble, today it's China that's in trouble and that's far more important to the steel business than the U.S.
In the Lightning Round, Cramer was bullish on Array BioPharma (ARRY) - Get Array Technologies Report, TJX Companies (TJX) - Get TJX Companies Inc Report, EOG Resources (EOG) - Get EOG Resources, Inc. (EOG) Report, Williams Partners (WPZ) and Natus Medicalundefined.
Cramer was bearish on Groupon (GRPN) - Get Groupon, Inc. Report, Motorola Solutions (MSI) - Get Motorola Solutions, Inc. (MOS) Report, Bed Bath & Beyond (BBBY) - Get Bed Bath & Beyond Inc. Report and SunEdison (SUNE) .
Off the Tape
In his "Off The Tape" segment, Cramer sat down with Mitch Rothschild, chairman and founder of the privately held Vitals, a health care information and rating provider.
Rothschild said that while most consumers didn't care about their health plans in the past, now that they're paying higher deductibles that is all changing. Vitals allows consumers to see costs and compare quality ratings to make smarter choices.
For many services, Rothschild said where you go matters. Hospitals may charge one rate, urgent care another, and specialized imaging or infusion centers still others. Comparison is key, he said, which is what Vitals offers.
Cramer said the Vitals story is an intriguing one as health care becomes more consumer-focused.
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.
To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here.
At the time of publication, Cramer's Action Alerts PLUS had a position in EOG, FB and GOOGL.