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'Mad Money' Recap: Next Week's Game Plan (Final)

Cramer says next week's plan offers a sneak preview of the earnings season and an harbinger of good things to come.
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NEW YORK (

TheStreet

) -- "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

Dow

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

Adobe

(ADBE) - Get Report

and

Research in Motion

(RIMM)

both report next week. He said this will be the perfect opportunity to see how much

Apple

(AAPL) - Get Report

, a stock which he owns for his charitable trust,

Action Alerts PLUS

, is hurting these companies. Cramer said he'd use any weakness to buy more Apple.

Cramer said he'd use

Jabil Circuit

(JBL) - Get Report

as a gauge on the rest of the tech sector, and would use

Bad Bath & Beyond

(BBBY) - Get Report

as a gauge on the housing market, along with home builders

Lennar

(LNR)

and

KB Homes

(KBH) - Get Report

, all of which report next week.

> > Bull or Bear? Vote in Our Poll

Cramer said he's watching

Nike

(NKE) - Get Report

and

Finish Line

(FINL)

for a read on footwear, and would use strength there to buy

Deckers

(DECK) - Get Report

and

Sketchers

(SKX) - Get Report

.

In other industries, Cramer said he'll be watching

ConAgra

(CAG) - Get Report

for a read on consumer goods and

Jefferies

(JEF) - Get Report

for the financials.

He said he'd use weakness in

Sonic

(SONC)

to be a buyer of

Darden

(DRI) - Get Report

ahead of its earnings. He said he would would stay away from the battleground that has become

Walgreens

(WAG)

.

Getting Defensive

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

MarkWest Energy

(MWE)

, 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

(KMP)

, 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

BP

(BP) - Get Report

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

UAL

(UAUA)

, parent of United Airlines. Cramer said Tilton's decision to merge with

Continental Airlines

(CAL) - Get Report

actually created value for his shareholders.

Finally, Cramer gave an honorable mention to an analyst at Sterne Agge, who this week downgraded

Annaly Capital

(NLY) - Get Report

on fears of a dividend cut. Later that day, Annaly, which returns 90% of its profits in a juicy 15% dividend, raised its dividend.

TheStreet Recommends

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:

Nike

(NKE) - Get Report

,

Citigroup

(C) - Get Report

,

Alpha Omega

(AOSL) - Get Report

,

Weatherford International

(WFT) - Get Report

and

SandRidge Energy

(SD) - Get Report

.

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

Berkshire Hathaway

,

Ford

(F) - Get Report

,

Citigroup

(C) - Get Report

,

Exxon Mobil

(XOM) - Get Report

and

Lowes

(LOW) - Get Report

.

Cramer blessed this portfolio as being perfectly diversified.

The third caller had

Apple

(AAPL) - Get Report

,

Avalonbay Communities

(AVB) - Get Report

,

Las Vegas Sands

(LVS) - Get Report

,

Ulta Salon

(ULTA) - Get Report

and

Netflix

(NFLX) - Get Report

as their top five stocks.

Cramer said this portfolio was also totally diversified.

Lightning Round

Cramer was bullish on

Vertex Pharmaceuticals

(VRTX) - Get Report

,

JM Smucker

(SJM) - Get Report

,

Cree

(CREE) - Get Report

,

Cirrus Logic

(CRUS) - Get Report

,

Banco Santander

(STD)

,

Sprint Nextel

(S) - Get Report

and

SPX Corp

(SPW)

.

He was bearish on

Green Mountain Coffee Roasters

(GMCR)

.

-- Written by Scott Rutt in Washington D.C.

To watch replays of Cramer's video segments, visit the Mad Moneypage on CNBC

.

Want more Cramer? Check out Jim's rules and commandments forinvesting from his latest book by

clicking here.

For more of Cramer's insights during the Lightning Round, clickhere

.

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."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

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.