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Friday, October 2, 2015
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: Alright, get ready to set your alarm clock for 2:45am to get up with me. That's because earnings season starts next week and, despite the propensity of everyone to believe that the only thing that matters is the Fed, or the slings and the arrows in the action we saw today, I got news for you.
Next week is earnings week, and sales and earnings at our individual companies are a lot more important than you think during this one period. Yes, in isolation a given number here or there, a strong Nike report, a good Home Depot quarter, it can move a stock. They may not even get in this market any pin action though. But 12 weeks a year - the three weeks each quarter - that I regard as official earnings seasons, oh they can matter to the entire market.
I want you to consider them the playoffs, and all the rest are just regular season games. Now, I have to give the macro data its due, even during earnings season, just like the employment report, so on Monday we get ISM Non-manufacturing number, and this is the lone number left that I think is still strong. I say that to all the Fed people who want rate hikes so badly. This is it. It's the only one, so you'd better get this one right. We're a service economy and, if we see that slow down, then the Fed would be nuts to raise. But it doesn't matter. That doesn't bother them. You know my view. The Fed has to fish or cut bait. Either raise rates this month, or shut up about them until next year. Anything else is just torture from any Fed president or Fed governor. Stop torturing us. There is one company reporting next Monday that I am focused on because, frankly, it's been one of the biggest disappointments out there. But hope springs eternal. And this time maybe The Container Store will pull a rabbit out of a hat. I haven't wanted you to own this stock, but it comes down to the category of something that's gone so low that maybe, just maybe, something's positive. Hey, stranger things have happened, and stocks do bottom if they beat even already-slashed estimates. So why don't we use The Container Store as a metaphor, a model, of what can happen if numbers are actually better than anything that's already been cut, because that's going to be a continued theme during this earnings season...