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

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NEW YORK ( TheStreet) -- "I'm staying cautious, and you should too," Jim Cramer told his "Mad Money" TV show viewers Friday, as he laid out his game plan for next week's trading.

Cramer said that with all stocks seemingly correlated to the S&P 500 average and the woes of Europe, individual company news will continue to not matter. But eventually, he said, what's driving down good stocks will start driving them higher.

Cramer said it's still too early to sound the "all clear," but once some of the European worries are solved, the facts will improve. That's why Cramer will be listening to the Best Buy ( BBY) earnings on Tuesday for a read on the health of the consumer. Although, he noted, Best Buy is becoming increasingly irrelevant as customers increasingly choose to shop elsewhere.

Also on Tuesday, Cummins ( CMI), a stock which Cramer owns for his charitable trust, Action Alerts PLUS, is hosting an analyst day and big conferences in tech and pharmaceuticals are also kicking off. Cramer said it might be the time to start buying into some of the most beaten down stocks in these areas.

On Wednesday, Cramer said the UPS ( UPS) analyst meeting will have his attention, as that's another great read on the U.S. economy. While on Thursday, Cramer said that Pier 1 Imports ( PIR) will report and that stock remains a buy.

Cramer was also bullish on Diamond Foods ( DMND), but markedly bearish on Research In Motion ( RIMM), saying the company is dying a slow death at the hands of the iPhone.

Speculative Oil Play

For "Speculation Friday," Cramer highlighted Lufkin Industries ( LUFK), makers of the "nodding donkey" style oil pumps so prevalent around the world.

Cramer said the idea for Lufkin first surfaced after he visited the Bakken shale region of North Dakota, an area that is in desperate need of more oil pumps. In fact, across the U.S. there are currently 3,500 oil wells that have been drilled, but not yet completed, a number that's not currently priced into Lufkin shares, noted Cramer.

Shares of Lufkin are down 34% from their highs, thanks in part to falling oil prices, overall market weakness and a seven-cent-a-share earnings miss when the company last reported. But Cramer said Lufkin's problems are now in the past, and the company sells at just under 12 times earnings despite the company's 14% growth rate.

Cramer said Lufkin analysts are pricing in a 7% price increase for this year, but estimates are now forecasting a 15% to 20% price increase thanks to increased demand. Cramer also said that Lufkin makes an attractive takeover target, especially at these levels.

Lufkin is still speculative, said Cramer, noted that continued weakness in oil, falling global demand and increased regulations could all continue to weigh on Lufkin shares. But given the huge oil boom in North Dakota and elsewhere in the U.S., Cramer said Lufkin is exactly the kind of smart speculating he's always endorsed on "Mad Money."

Focus on China

"Stop obsessing over Europe and start focusing on China," Cramer told viewers, as he said the negative news of the day completely overshadowed great news from China. He said that with falling consumer prices in China, the country may finally be getting a grip on inflation, which means it can stop raising interest rates and slowing demand.

So what's that mean for stocks? Cramer said it means great things for Southern Copper ( SCCO), as China currently uses 40% of the world's copper production. Southern Copper also sports a hefty 7% dividend yield.

Cramer said that Southern Copper is a pure play on increased construction and the urbanization and industrialization of developing countries around the globe, especially in China. He said while the price of copper has fallen off its highs, it's still a very lucrative game for Southern, which is among the lowest cost producers.

Southern Copper is still speculative however, noted Cramer, as the company relies on operations in Peru, which have been historically unstable. However, Cramer said that Peru has committed to a stable mining environment going forward and has vowed not to shut in any projects going forward. Cramer said all of the negatives surrounding Peru are priced into the Southern's stock, but none of the positives.

Cramer said that even if China is slow to restart, Southern Copper still makes a worth while investment thanks to its juicy dividend yield.

Nvidia Shakes Off Gloom

In the "Executive Decision" segment, Cramer spoke with Jen-Hsun Huang, president and CEO of chipmaker NVIDIA ( NVDA).

Huang said that despite the economic doom and gloom, business is "pretty robust" and while sales are maturing in the U.S., emerging markets, especially China, are very robust and growing quickly. Huang also said that NVIDIA chips are not only in PC and gaming consoles like the PS/3, they're also in displays of all sizes, from autos to displays in New York's Times Square.

When asked about the tablet market, an area where Apple ( AAPL), an Action Alerts PLUS stock, dominates, Huang noted that in just four years Google's ( GOOG) Android operating system has gone from 0% to 40% market share in smart phones. He said that Android is likely to replicate that success in tablets as well.

Cramer said the time is right for stocks like NVIDIA, especially since the seasonal weakness in tech stocks is now behind us.

Lightning Round

Cramer was bullish on Broadridge Financial ( BR), Alcoa ( AA), Coach ( COH) and SPDR Gold Shares ( GLD).

He was bearish on MAKO Surgical ( MAKO), Insituform Technologies ( INSU), Eastman Kodak ( EK) and iShares Silver Trust ( SLV).

9-11 Remembrance

Cramer closed the show with a moving "9/11 Remembrance" segment. He said that for him, this year's anniversary is a chance to commemorate the "regular guys," the every day people who lost their lives that day. Cramer said he will never forget those who died.

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

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At the time of publication, Cramer was long Apple, Cummins.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of 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, 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 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, 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, 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 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, 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.

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