CNBC's Jim Cramer urged investors to take advantage of down days like Friday to prepare portfolios for the Federal Reserve's upcoming interest rate hikes but only if they have the means to do so.
"After today's disaster, we're actually probably good for another beat-down or two before we settle into what I think will be a feeble midweek rebound," he said.
"Once again, I want to advise you that you need to take a little off the table into any of the bounces to prep you for the coming rate hikes. You can put a little money to work on days like today but only if you have the money to begin with," he later added.
The Dow Jones Industrial Average slipped 2.8% on Friday, its biggest loss since October 2020. The S&P 500 tumbled 2.8%, and the Nasdaq Composite fell 2.6%.
The "Mad Money" host also previewed next week's slate of earnings.
All earnings and revenue estimates are courtesy of FactSet.
Monday: Coca-Cola
"I'd be a buyer on weakness because Coke has tremendous pricing power," Cramer said.
Tuesday: Microsoft, Alphabet, Chipotle
Microsoft
The company "should have a terrific number but it might not matter because the stock is expensive," Cramer said.
Alphabet
"People have turned on [Alphabet] now because they think online advertising has stopped growing I think they're wrong because Google's a special case," Cramer said.
Chipotle
Cramer said the company is a sell in an environment where interest rates will rise.
Wednesday: Boeing, Meta
Boeing
"We've all gotten used to Boeing being ugly, and I expect more ugly," Cramer said.
Meta
Cramer said he thinks the Facebook parent will miss the quarter and cut their forecast. "I'm keeping some powder dry to do some buying for the Charitable Trust," he added.
Thursday: Twitter, Amazon, Apple
Cramer said that if the social media company doesn't announce a new feature or initiative, Elon Musk "should go full corporate raider here and go after Twitter by any means necessary."
Amazon
"I think Amazon is meeting no resistance from any other retailer, but it's still a high-multiple stock, which means it might not be able to put up much of a rally even if the quarter's spectacular," Cramer said.
Apple
Cramer said that it's difficult to expect any upside from the iPhone maker considering Covid shutdowns in China.
Friday: Chevron
"I would love to see Chevron stock pull back so we can buy more [for the Charitable Trust] with an even higher dividend yield," Cramer said.
Disclosure: Cramer's Charitable Trust owns shares of Amazon, Apple, Boeing, Chevron, Meta and Microsoft.
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Cramer's week ahead: Tech giants report earnings, be ready to act on market bounces - CNBC
