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Jim Cramer said Friday his “Game Plan” for next week is “going almost all Europe, because while they do have a July 4th over there, they sure don't celebrate it.”
Nevertheless, the “Mad Money” host noted that next week will be the last week before corporate earnings season. So Cramer recommends investors use any strength to “lighten up” on troubled sectors, such as technology, industrials and banking. If the oil and gas sector gets a lift, he recommends lightening up on the whole complex, especially the drillers. Elsewhere in the market, he thinks the retailers may soon be oversold and suggests Bed Bath & Beyond. He also likes most health care stocks now that the U.S. Supreme Court has upheld the Affordable Care Act.
On Monday, Cramer will look for the June Institute for Supply Management, which is sometimes referred to simply as the ISM index. Some on Wall Street think the number will disappoint, Cramer said, because of the sudden cessation in oil and gas drilling caused by the collapse in commodity prices. Either way, Cramer thinks the Purchasing Managers Index or PMI might be more important.
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