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NEW YORK (
) -- "Next week we're getting an earnings season sneak preview, so pay attention," Jim Cramer told the viewers of his "Mad Money" TV show Friday.
He said while the markets may be range bound between
9,700 and Dow 10,700 based on the global economic data of the day, next week's earnings will highlight where the mini-bull markets can be found.
Cramer said tech giants
Research in Motion
both report next week. He said this will be the perfect opportunity to see how much
, a stock which he owns for his charitable trust,
, is hurting these companies. Cramer said he'd use any weakness to buy more Apple.
Cramer said he'd use
as a gauge on the rest of the tech sector, and would use
Bad Bath & Beyond
as a gauge on the housing market, along with home builders
, all of which report next week.
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Cramer said he's watching
for a read on footwear, and would use strength there to buy
In other industries, Cramer said he'll be watching
for a read on consumer goods and
for the financials.
He said he'd use weakness in
to be a buyer of
ahead of its earnings. He said he would would stay away from the battleground that has become
With our range bound market nearing Cramer's predicted top of Dow 10,700, he said investors need to be prepared for another downturn, and that means getting defensive with high-yielding dividend stocks. He recommended
, which now yields a whopping 8%.
Cramer said MarkWest has been taking off since the oil spill in the Gulf, as more and more people realize that the our country's energy future is in natural gas, and not in deep water oil. He said MarkWest operates much like another favorite,
Kinder Morgan Energy Partners
, a master limited partnership that returns most of its profits to shareholders.
MarkWest mainly operates gathering and processing systems in the highly touted Marcellus shale region, and is expected to quadruple production there by the end of 2011. The company derives around 40% of its revenue from fee-based operations, which are not dependent on the price of the commodity. The rest of its revenues are mostly hedged through 2010 and 2011, meaning the earnings, and the company's dividend, are safe bets.
Cramer said with growth in natural gas not stopping, MarkWest only has more room to raise its dividend and make even more money for its shareholders.
Wall of Shame
Taking a little time out from stock picking, Cramer made a few changes to his "Wall of Shame" list of the worst corporate executives on earth, those that do nothing but destroy value at their companies.
Cramer said it should come as no surprise, but
CEO Tony Hayward, made the new top of the list. He said Hayward is clearly clueless, originally saying that one of the largest oil wells ever drilled is leaking only 1,000 barrels day. Current estimates put the spill between 60,000 and 100,000 barrels a day.
Cramer said Hayward, who made $4.6 million in salary and compensation last year, has cost BP $20 billion, and counting, so the writing should be on the wall.
Coming off the list, Glenn Tilton, CEO of
, parent of United Airlines. Cramer said Tilton's decision to merge with
actually created value for his shareholders.
Finally, Cramer gave an honorable mention to an analyst at Sterne Agge, who this week downgraded
on fears of a dividend cut. Later that day, Annaly, which returns 90% of its profits in a juicy 15% dividend, raised its dividend.
Cramer said Sterne Agge couldn't have been more wrong. He said investors should see the dividend as their signal to buy it.
Am I Diversified?
Cramer spoke with callers to see if their portfolios have what it takes. The first caller's portfolio included:
Cramer identified two of a kind with Weatherford and SandRidge, and recommended keeping Weatherford, a stock which he owns for his charitable trust,
Action Alerts PLUS, and selling Sandridge.
The second caller's top holdings included
Cramer blessed this portfolio as being perfectly diversified.
The third caller had
Las Vegas Sands
as their top five stocks.
Cramer said this portfolio was also totally diversified.
Cramer was bullish on
He was bearish on
Green Mountain Coffee Roasters
-- Written by Scott Rutt in Washington D.C.
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At the time of publication, Cramer was long Apple, Weatherford.
Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."
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Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on TheStreet.com. The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in TheStreet.com, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.