NEW YORK ( TheStreet) -- "It's possible the bears will have the upper hand next week," Jim Cramer told the viewers of his "Mad Money" TV show Friday. "But while other people panic, you stay calm and profit" Cramer said next week's trading will be dominated by the Federal Reserve meeting on Tuesday. He told investors they need to beware of Tuesday, as the bears will likely use any excuse to take profits and send stocks lower. Also next week is the latest read on industrial production on Monday. Cramer said he'll be watching that key metric for a look into the health of the economy. He'll also be paying attention to biotech Sequenom's ( SQNM) conference call. Cramer said this stock has doubled in recent weeks, but he needs to listen and learn about the company's future prospects before taking any action.
The TipoffFor "Speculation Friday," Cramer highlighted Sunstone Hotel Investors ( SHO), a hotel investment trust that's been down on its luck, but may be poised to recover. Cramer said his tipoff for Sunstone came from reading that the company's CFO had just purchased 5,900 shares of the company's stock in the open market. Cramer said of all the executives who could be buying shares, investors need to take notice when the guys who handle the money, the CFO's, buy their company's stock. Sunstone has been on the ropes for awhile, with the company defaulting on loans for 14 of its 29 hotel properties, as what was owed on the mortgages rose above the values of the properties. Of the 14 analysts who cover the stock, only one gives it a buy, with 12 holds and two sells. But Cramer noted that Sunstone may be worth speculating on, given its CFO has confidence in the company, and that it beat earnings estimates on Feb. 23 by one cent a share. The company reported occupancy increases at all of its properties, has $4 per share of cash on its books, and is in negotiations to keep three of the 14 properties it abandoned. Cramer said he also likes the fact that Sunstone could soon restart its dividend, which it halted in 2009 amid the worst of its troubles. He said there's no hurry to buy into Sunstone, with shares at their 52-week high, but he would consider it on a pullback.
Pet Plays"There's a bizarre bull market going on in pets," Cramer told viewers. He said that after Del Monte Food ( DLM), makers of Meow Mix, Milkbone and Snausages brands of pet foods and snacks, reported stronger-than-expected sales, he took notice. Cramer said there's no questioning that Americans love their pets, with pet supply sales topping $45.5 billion in 2009 and expected to top $47.7 billion in 2010. With 62% of American households owning at least one pet, Cramer said investing in the pet bull market should be a no-brainer. But Cramer said he's still not a fan of Del Monte, which is largely a fruit and vegetable powerhouse. Instead, he said inventors need to look into Petsmart ( PETM), the country's largest pet product retailer with 1,100 stores, and PetMed Express ( PETS), the country's largest online pet pharmacy. Cramer said Petsmart has it all, from pet foods and supplies, to services like boarding, grooming and healthcare. The company reported same-store sales were up 1.5%, with inventories down 6%, in its most recent quarter. Petsmart trades at 15 times 2011 earnings, but has historically seen 19 times earnings, which Cramer said would be more appropriate for its accelerating sales. Then there's PetMed Express, the Amazon.com ( AMZN) of the pet world. Cramer said this company simply makes it easier and cheaper to care for pets, by buying medications and supplies online. This company trades at just 16 times its earnings, despite its 15% long-term growth rate. Cramer said he wouldn't chase either of these names higher, but on a pullback, both would be very attractive.
Outrage of the DayCramer offered an open invitation to the investigators of our financial collapse to subpoena him for a real list of the people responsible for the collapse of our financial system. Cramer said it makes no sense that all of the "investigations" so far have focusedon the current CEOs of the banks and insurers. "We need to hear from the people responsible," he said, "the people who crashed and burned their own companies." Cramer said the investigators need to hear from the former heads of Bear Sterns and Lehman Brothers on how they could have no risk controls and totally surrender to greed. They need to hear from Fannie Mae ( FNM), on how they could take in so many bad mortgages. He said they need to hear from the executives at Washington Mutual execs to see how they allowed the biggest bank failure ever to occur. According to Cramer, there's a host of others, including the unregulated hedge funds, the regulators, the FDIC, and the ratings agencies like Moody's ( MCO). "Where were they?" Cramer said the investigators need to get serious and call on all these people to get to the bottom of the problem, and he's all too happy to help.
Lightning RoundCramer was bullish on ADC Telecommunications ( ADCT), Agnico-Eagle Mines ( AEM) and Leggett & Platt ( LEG). He was bearish on Select Comfort ( SCSS), Ivanhoe Mines ( IVN) and UAL ( UAUA). -- Written by Scott Rutt in Washington D.C. To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.