Cramer's game plan: Crucial event to create market fireworks next week

In Jim Cramer's perspective, this week was a harsh reminder to investors that panic is not an investment strategy.

Unfortunately, investors may be put to the test again next week, ahead of the employment numbers on Friday.

The stock market panicked on Monday after news of a Brexit. Monday was the seventh biggest day of redemptions in 10 years, even through the financial crisis and great recession.

"I find the statistic infuriating because no matter how hard that I preach that nobody ever made a dime from panicking — and selling on Monday was pure panic — people just can't take it. They don't know what they own. They fear owning stocks. They don't' know how to stay put, let alone do some buying," the "Mad Money" host said.

While stocks did bounce by the end of the week, Cramer says it might have been too good. For those who bought near the bottom, it could be time to take something off the table, he said. For those who haven't bought yet, they must wait.

"I can't countenance coming in after a gigantic run right ahead of what might be a difficult earnings season," Cramer said.

With this in mind, Cramer outlined the stocks and events he will be watching next week:

Monday: British bank stabilization, Diageo
"Monday is our independence day, but these days we are focused on another independence day — Britain's from the EU," Cramer said.

Bank stabilization: Cramer will be watching for Lloyds Bank (London Stock Exchange: LLOY-GB), Barclays (London Stock Exchange: BARC-GB) and Royal Bank of Scotland (London Stock Exchange: RBS-GB), which were all at the center of the Brexit sell-off. He thinks that their bonds are doing well, and has his eye on Lloyds for speculation.

Tuesday: Hershey & Mondelez
Cramer expects that a more attractive bid for Hershey (NYSE: HSY) could surface from Mondelez (NASDAQ: MDLZ). It could be a hard deal to pull off, but at the right price he thinks it could happen.

Wednesday: Walgreens Boots Alliance
Walgreen's (NASDAQ: WBA) owns Alliance Boots, which has a large operation in the U.K. With a weaker pound, Cramer suspects that numbers will go down. He will also be watching for clarification on what is happening with the Rite Aid acquisition.

Thursday: PepsiCo
Cramer expects another story of growth from Pepsi (NYSE: PEP). There have been rumors that Pepsi could be interested in Hershey, too, but with the current set-up, Cramer says CEO Indra Nooyi doesn't need to make a move.

Friday: Big, bad jobs report
Things could take a turn on Friday when the Labor Department releases its non-farm payroll report for June.

"We get the big bad jobs report and this could be crucial … if we get a strong employment number, no one is going to be talking about Brexit, they will be talking about rate hikes. That chatter is never going to die," Cramer said.

At this point, anything is possible, but with the weaknesses in oil, banking, retail and technology Cramer is not expecting a strong number.

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram - Vine

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com

More From CNBC

• Top News and Analysis
  

• Latest News Video
  

• Personal Finance