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NEW YORK ( TheStreet) -- The markets have had a fabulous run, but don't get complacent, Jim Cramer warned on "Mad Money" Friday as he laid out his game plan for next week's trading. Cramer said with the next Federal Reserve meeting slated for Wednesday, the markets could be put to the test. Before the Fed meeting, Cramer said he'll be watching both the Empire State Fed Survey and the U.S. industrial production numbers on Monday. Both these metrics will offer some clarity on whether the economy is strengthening or weakening as many fear. Also on Monday, the Morgan Stanley industrial and auto conference, which can offer up even more data. Cramer said he'll also be watching results from Boeing ( BA) on Monday, along with the Citigroup Global Industrial Conference on Tuesday. He reiterated buys on Emerson Electric ( EMR) and United Technologies ( UTX) ahead of the conference. But the real news comes on Wednesday when the Fed releases its statement, said Cramer. He told investors to be ready to buy on the resulting weakness because no matter what the Fed does, it's unlikely to have an effect on the earnings per share of most companies. FedEx ( FDX) and Oracle ( ORCL) also report Wednesday and Cramer said he'd be a buyer of FedEx, but has given up on Oracle. Thursday brings earnings from two turnaround stocks, Pier 1 Imports ( PIR) and Rite Aid ( RAD). Cramer was bullish on both names. Finally, on Friday, Cramer said the markets will likely take a rest after fretting about, then digesting, whatever the Fed has in store for us.
Speculation FridayFor "Speculation Friday," Cramer highlighted what he deemed "the best new company you've probably never heard of," Splunk ( SPLK). Splunk came public in April 2012, and since then shares have rocketed 245%. As Cramer explained, Splunk helps companies manage and make sense of their big data, but not the sales and accounting kind that live in structured databases. Splunk has created game-changing software that helps companies analyze unstructured data, which can often account for as much as 90% of the data companies generate in a given year.
Unstructured data is often called machine data, or the logs created by servers as they go about their business. Machine data create a treasure trove of useful information, but only if it can be read, aggregated and analyzed, which is exactly what Splunk's software does. Splunk's customers can detect fraud, analyze security threats and prove that their in compliance all by using Splunk software. Cramer said that big data is a $30 billion opportunity for Splunk, and the company is aggressively expanding its sales force to take a leading position. It reported a 50% rise in revenue last quarter with an incredible 90% gross margin, he added. It's no wonder shares are trading at 12 times sales, even though it is not yet profitable. Cramer said he's a believer in the Splunk story, but only for speculation given its extremely high valuation.