Friday Night's Show Highlights:
Tread lightly until Friday's Non-farm payroll number, and hold your pharma buying!
Friday, January 29, 2016
Providing a VERBATIM recap of Jim Cramer's Friday Night "Game Plan for Next Week," word for word, with all stock picks & recommendations to help you prepare for the week ahead, including that night's Lightning Round picks...
Jim: A week ago this very Friday, you couldn't give stocks away. We left here dazed and confused, and glad those miserable five days were behind us. This week turned out to be the total opposite, and we finished January with a bang, with the Dow roaring 397 points higher, the S&P vaulting 2.48%, and the Nasdaq climbing 2.38%.
What the heck happened to make these things go right for stocks? Well first, amazingly, we decoupled from the Chinese stock market. That's a big deal because China's market is deservedly going down. It was all a bubble, frankly, if not a joke. And the lower it goes, the more we realize that the Shanghei Composite doesn't stand for anything.
Second, we had the Fed meeting. And even though we didn't get what would have seemed natural, given the weak data... a statement saying, now we're going to wait and see... I think plenty of buyers came off from the sidelines because the big bad event is now in the past.
Finally, we got a good week for oil. And as much as it's a negative for most businesses and consumers that crude bounced from $26 to $33, any rebound here means that the beleaguered oil companies get a chance to raise more capital, buying them more time to stay in business. And don't forget, when it comes to higher oil, we're in Crazy Town. This week we also learn that people quit on stocks too easily. Many stocks that were hammered earlier in the week ended up much higher by today's close. I wouldn't be surprised, by the way, if Amazon, which was crushed today, obliterated, on an allegedly "weak" quarter actually bounces right back next week. So let's keep these bounce back situations in mind when we get another flood of earnings next week. Oh, and a flood of incredible guests, by the way, when we take the show on the road. We're going to San Francisco to do a countdown for the big game, so stay tuned. You're not going to believe the roster of guests we're talking to. Frankly, I was blown away by it.