Friday Night's Show Highlights:
Brexit dominates all, so do a lot more watching and a lot less buying!
Friday, June 24, 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: Even after today's vicious thrashing, I think we are likely to go still lower next week, as people realize that the Brexit consequences might impact the numbers more than many think. Look, I said that it wouldn't be the end of the world if the UK votes to pull out of the European Union, in part because they already have one foot out the door with their own currency. And in part because actually leaving the EU is a long and complicated process. It's probably going to take years. But it's still a big deal.
So Sunday night at 8 PM, we are doing a special here on CNBC because we haven't had time to sort through all of the ramifications of this pro-Brexit vote. Ramifications that could explain… like the giant declines we saw today in the stocks of the European banks. I mean, what the heck is going on there? Is there some sort of credit risk? Something much worse than stock risk? Is there the possibility that once one of these banks, or all of them, are on shakier ground than we realize, and that could pull down a lot of other stocks?
That's when I'm going to ponder on Sunday night show. Other words, I'm focused on their financial institutions, not ours. Frankly I saw too much bargain-hunting today. Too many stocks that have done nothing but repeal some gains from earlier this week, and no more, and people are buying them. So with that in mind, let's get into the Game Plan for next week. MONDAY Tech and Healthcare hunting On Monday, I'm going to start the hunt for the ideal tech and healthcare to talk about for you… ones that don't have a lot of European exposure, and then are finally down enough to entice you with some degree of safety. Why wasn't today's pain enough to sate the bear? Because I think that many research analyst were caught by surprise here. Brexit was last night, and they are about to put pen to paper this weekend, and revise down the earnings estimates of companies that do a lot of business, not just in the UK, where I anticipate a very big slowdown, but in...