Next week will be the last fast and furious week of earnings season, but look for the volatility to continue, Jim Cramer told his Mad Money viewers Friday.
Even on the good days, this market can be treacherous, Cramer said. That means have your shopping list at the ready and be prepared to pounce on the next big selloff.
Cramer's game plan for next week's action begins, as it typically does, on Monday. He'll be watching the earnings of Otis Worldwide (OTIS) and NXP Semiconductor (NXPI), both of which should have good things to say.
Tuesday is the heaviest day for earnings, when we'll hear from the likes of Alphabet (GOOGL), ExxonMobil (XOM), Advanced Micro Devices (AMD), PayPal (PYPL), General Motors (GM) and Starbucks (SBUX). Cramer was bullish on Alphabet, AMD and General Motors, but said investors will need patience with Starbucks and PayPal.
Wednesday brings earnings from Meta Platforms (FB) and AbbVie (ABBV), which sports a 4.1% dividend yield. Cramer was bullish on both stocks. That bullishness continued on Thursday when four more Cramer favs will be reporting, Eli Lilly (LLY), Honeywell (HON), Ford Motor (F) and Amazon (AMZN).
Finally on Friday, it's Regeneron (REGN) and Bristol-Myers Squibb (BMY) reporting, and Cramer expects good things.
Executive Decision: Boot Barn
In his "Executive Decision" segment, Cramer once again spoke with Jim Conroy, president and CEO of Boot Barn (BOOT), the Western apparel retailer that's seen its shares slide from $135 to $85 over the past two months, including a 9.7% decline Friday, after the company reported good earnings.
Conroy admitted that he's perplexed by the market's reaction to the earnings, but he remained confident that the valuation will take care of itself over the long term. He explained that Boot Barn's growth has been so strong that some investors are fearful that it can't possibly continue. That is not the case, however, he said.
Boot Barn is seeing strong sales in new markets as well as at new stores in existing markets, which has led the company to raise its estimate for how many stores it could have. Conroy noted it can at least double, and possibly triple, the store count based on current projections.
As for the company's recent quarter, Conroy said it was positive on many fronts. Work apparel is starting to gain traction again, while casual and leisure clothing is also strong as people start to go outside again.
Am I Diversified?
In the "Am I Diversified" segment, Cramer spoke with callers and responded to tweets sent via Twitter to @JimCramer to see if investors' portfolios have what it takes for today's markets. The first portfolio included Advanced Micro Devices, UPS (UPS), CVS Health (CVS), Coca-Cola (KO) and General Electric (GE). Cramer blessed this portfolio as properly diversified.
The second portfolio's top holdings included Apple (AAPL), Airbnb (ABNB), Boeing (BA), Lucid (LCID) and Astra Space (ASTR). Cramer called this portfolio eclectic, but said it too was diversified.
The third portfolio had KKR (KKR), FMC (FMC), Royalty Pharmaceuticals (RPRX) , PPG Industries (PPG) and Hannon Armstrong (HASI) as its top five stocks. Cramer said this portfolio was diversified, but didn't offer the growth he wanted for a younger investor to have.
The fourth portfolio's top stocks were Blackstone (BX), Pfizer (PFE), Lowe's (LOW), Alphabet (GOOGL) and Vici Properties (VICI). Cramer was a big fan of this portfolio.
The last portfolio included Apple, Advanced Micro Devices, Bausch Health (BHC), Morgan Stanley (MS), and Starbucks. Cramer said this portfolio can't include both Apple and AMD, which is too much technology. He suggested adding Caterpillar (CAT) or Chevron (CVX) to be properly diversified.
Executive Decision: Rockwell Automation
For his second "Executive Decision" segment, Cramer also spoke with Blake Moret, chairman and CEO of Rockwell Automation (ROK), which just delivered 17% organic growth in its most recent quarter, but still has shares down 20% from their highs.
Moret first commented on the fact that Rockwell did not raise their estimates this quarter. He said it doesn't mean that Rockwell's best days are behind them. They still expect an exceptional year in 2022.
The demand for goods is growing across many industries, Moret said, and Rockwell has the equipment, software and expertise companies need to increase throughput and meet that growing demand. The company is supplying upstarts like Lucid Motors (LCID) with the equipment they need to make electric vehicles and they also have a sizable market share in tire manufacturing, which is almost completely automated around the world.
Rockwell is also a key player in the semiconductor equipment industry, Moret added. You can't build chips today without using Rockwell and they're working hard to supply every chip manufacturer with the equipment and software to resolve the shortages.
Lightning Round
In the Lightning Round, Cramer was bullish on Greenbrier Companies (GBX), Hillenbrand (HI), Herc Holdings (HRI), United Rentals (URI) and Nucor (NUE).
Cramer was bearish on ThredUp (TDUP) and Asana (ASAN).
Slow and Steady
In his "No Huddle Offense" segment, Cramer said the key to smart investing isn't following the quick money, it's investing slow and steady over the long term. This dichotomy was on full display this week in the earnings of Robinhood (HOOD) versus Apple.
While you can certainly invest for the long term using Robinhood's platform, the vast majority of its users are buying options -- the shortest, and riskiest, of short-term investments. As Robinhood's users are getting wiped out by these risky investments, the company makes less money, which is what we saw with their miserable results this quarter.
Compare that to Apple, the company about which Cramer has long said "own it, don't trade it. Apple is a real company, making real products and returning boatloads of capital back to shareholders. If you really want to make money, buy just one or two shares of Apple. Buy more when it dips and reinvest those dividends. Before long, you'll have a nest egg that will far exceed any short-term gains you'll get from following memes on Robinhood.
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