Jim Cramer Blog

Negative investor sentiment and potential spillover regarding Asian markets / the now familiar Yen carry trade, sub and prime loan market anxieties and volatility in hard commodities and energy will set the stage this week. Whether those factors ease or not isnt known. As such, the expectation for more volatility in the broader averages is likely, but to pick a direction without some improved clarity on any or all of those fronts is not a strategy traders need to embrace just yet. Earnings are all but over for the Q4 reporting season and potential market movers are nearly out of the equation this week. National Semi (NSM) and Hovnanian (HOV), for better or for worse, are considered to have the most potential on that front. For economic watchdogs, regularly scheduled catalysts are slightly more abundant. However, as last weeks meltdown over the unforeseen or the overlooked is a testament, waiting on a number other than the kind directly related to our portfolios can be a rather difficult and costly proposition. For those so inclined, the big headliner will be the monthly jobs report to close out the week. With four potentially volatile sessions and plenty of leading concerns dictating the market, the always heralded report takes on a bit less meaning for traders interested in portfolio management.

Monday

Economic: ISM Services (57.5)

Earnings: OM Group (OMG), ABM Ind (ABM), ADC Tele (ADCT), Finisar (FNSR), Novatel (NGPS)

Tuesday

Economic: Productivity Revised (1.7%), Factory Orders (-4.0%)

Earnings: Allis Chalmers (ALY), Brown Forman (BF.B), Iconix (ICON), Volt (VOL), Chicos (CHS), Dicks Sport (DKS)

Wednesday

Economic: Weekly Crude, Beige Book

Earnings: American Eagle (AEOS), BJs (BJ), Westwood One (WON), Coldwater (CWTR), Flamel (FLML), FuelCell (FCEL), Martek (MATK), Mens Wearhouse (MW), TiVO (TIVO)

Thursday

Economic: Weekly Claims (335K)

Earnings: Alon (ALJ), Goldcorp (GG), Urban Outfitters (URBN), Comtech (CMTL), Hovnanian (HOV), Cooper (COO), Natl Semi (NSM), GMarket (GMKT), Georgia Gulf (GGC), TurboChef (OVEN)

Friday

Economic: Nonfarm Payrolls (100K), Unemployment (4.6%), Hourly Earnings (.3%), Trade Balance (-$60.0B), Wholesale Inventories (-.1%)

Earnings: Big Lots (BIG), Encysive Pharma (ENCY)

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Labels: ABM, ADCT, ALY, CHS, FNSR, ICON, OMG, VOL