The bias in this market is to buy, not to sell, Jim Cramer told his Mad Money viewers Friday, but only if you can buy stocks on weakness. Cramer's game plan was jam-packed for next week, as this is the heart of earnings season.
On Tuesday, it's General Motors (GM - Get Report) , United Technologies (UTX - Get Report) , Caterpillar (CAT - Get Report) , 3M (MMM - Get Report) and Stanley Black & Decker (SWK - Get Report) representing the industrials, and Cramer said they're all buys on weakness. McDonalds (MCD - Get Report) also reports, and Cramer was bullish, but not so much with Chipotle Mexican Grill (CMG - Get Report) , which has still not found a bottom.
The earnings parade continues on Wednesday with Boeing (BA - Get Report) -- the best stock in the Dow -- along with Coca-Cola (KO - Get Report) and Walgreens Boots Alliance (WBA - Get Report) , two more stocks in troubled sectors. Cramer was bullish on Visa (V - Get Report) , but weary of Nike (NKE - Get Report) , which is scheduled to hold an analyst day.
If that's not enough, Thursday puts Bristol-Myers Squibb (BMY - Get Report) in the spotlight, along with Raytheon (RTN - Get Report) and the World Series of tech names, Alphabet (GOOGL - Get Report) , Amazon (AMZN - Get Report) , Microsoft (MSFT - Get Report) and Intel (INTC - Get Report) . Cramer loved them all on any weakness.
Finally on Friday, the week ends with Exxon-Mobil (XOM - Get Report) and Chevron (CVX - Get Report) , and Cramer was not a fan. Likewise with Merck (MRK - Get Report) . He did recommend Abbvie (ABBV - Get Report) , however, along with Colgate-Palmolive (CL - Get Report) , which he expects to post an upside surprise.
Over on Real Money, Cramer says Facebook (FB - Get Report) , Amazon, Netflix (NFLX - Get Report) and Google (now Alphabet) have become the de facto shorts for high-growth players. Get more of his insights with a free trial subscription to Real Money.
Slow and Steady Can Win the Race
Being thoughtful pays off, Cramer told viewers, especially if you're Honeywell (HON - Get Report) . Before leaving the company, CEO Dave Cote did an excellent job training his replacement, Darius Adamczyk, Cramer said, and when activist Dan Loeb came knocking, Adamczyk was ready.
Unlike most companies, which dismiss activists, Adamczyk considered Loeb's suggestion to spin off the company's aerospace division, offering to perform a strategic review of all their businesses. The result? Not one, but two spinoffs will occur, and the result is even better than spinning off aerospace.
Adamczyk took a slow and methodical approach to Loeb's suggestions, Cramer concluded, and the outcome is a win for everyone, including those who own the company's shares -- up 25% for the year.
Get Ready For Big Changes at GE
Is it time to finally buy shares of General Electric (GE - Get Report) , an Action Alerts PLUS holding that Cramer has been critical of for months? After CEO John Flannery gave an interview today, the answer might soon be yes.
Cramer said he's confident that Flannery can fix the broken GE, using a slow and methodical approach that includes changing the company's accounting method to be more transparent. Flannery's message resonated with shareholders today, as the stock closed up 1% after the company reported yet another abysmal quarter. But Cramer said it might still be too soon for GE, as the company has many issues that need to be fixed.
Cramer and the AAP team say Flannery really means business. Find out what they're telling their investment club members and get in on the conversation with a free trial subscription to Action Alerts PLUS.
If you're going to recommend stocks for a living, you need to have accountability, Cramer told viewers, and that means circling back to what worked, and what didn't. Nearly 13 months ago, Cramer recommended Callaway Golf (ELY - Get Report) and Dick's Sporting Goods (DKS - Get Report) on the thesis that golf was making a comeback. Callaway is up 25% since that call, but Dick's has plunged nearly 50%, along with all of authentic apparel.
Callaway is still the only real pure play on golf, having the No. 1 position in drivers and No. 2 in golf balls. While the stock has been slow to rise, it is rising, Cramer noted.
But then there's Dick's, which has still not been able to stabilize sales, despite two more rivals going bankrupt. Athletic apparel is in secular decline, Cramer said, and he's not encouraged by what he's seeing.
Finally, Cramer said, the best way to play golf without swinging a club is with EPR Properties (EPR - Get Report) , the entertainment REIT that owns the land under many of Callaway's Top Golf locations. The stock pays a bountiful 5.8% yield.
Cramer Does His Homework
In his "Homework" segment, Cramer followed up on a few stocks had that stumped him during earlier shows. He said that Comtech Telecommunications (CMTL - Get Report) has scale and diversification, but shares are up 80% this year, selling at a lofty 30 times earnings.
As for fiber optic equipment maker Lumentum (LITE - Get Report) , Cramer said this company is benefiting from the coming 100 gigabit ethernet standard, but he'd still rather be in LAM Research (LRCX - Get Report) .
In the Lightning Round, Cramer was bullish on Magellan Midstream Partners (MMP - Get Report) , Macy's (M - Get Report) , Activision Blizzard (ATVI - Get Report) , Walt Disney (DIS - Get Report) , Align Technology (ALGN - Get Report) and Schlumberger (SLB - Get Report) .
Cramer was bearish on Enbridge (ENB - Get Report) , Applied Optoelectronics (AAOI - Get Report) , Glu Mobile (GLUU - Get Report) , FibroGen (FGEN - Get Report) and Ensco International (ESV - Get Report) .
Cramer will host CNBC's Jon Najarian, TD Ameritrade's JJ Kinahan, famed analytics expert Marc Chaikin and other market experts on Oct. 28 in New York City to share successful strategies for active investors.
When: Saturday, Oct. 28, 8 a.m. to 3 p.m.; Where: The Harvard Club of New York, 35 West 44th St., New York; Cost: $250 per person. Click here for the full conference agenda or to reserve your seat now.
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