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Friday  June 9, 2006

Next Week's Game Plan

The Game Plan for next week is this:  Defense.

"Market players must be prepared for a hard landing next week in case Federal Reserve Chairman Ben Bernanke keeps raising rates," Jim Cramer said.

"When we have the expectation that the Fed is going to raise rates, we must run to the supermarkets and drugstores," he said.

Jim's plan for next week includes these three supermarket stocks:

The Hershey Company HSY
McCormick & Company, Inc. MKC
Kellogg Company K
Hershey "May seem like a boring stock, but in terms of growth, it is among the best in its group," Cramer said.   He also called Kellog the "most dependable of the group".

Jim noted that "Hershey, McCormick and Kellogg are defensive stocks that were among the best performers the last time the Fed raised rates too high, in 2000-02."

And for drugstores, Jim likes the following:

Schering-Plough Corporation SGP
Novartis AG (ADR) NVS
sanofi-aventis (ADR) SNY
Johnson & Johnson JNJ
Jim warned that "One thing you do want to make sure of is that the drug companies you invest in have product patents".  DO YOUR HOMEWORK!!
Jim Cramer's Reasons to buy
GlaxoSmithKline plc (ADR) GSK NOW!!

"If you want to buy one stock that protects you from the Bernanke onslaught, this is it"

2.  The reportedly put in the highest bid for  
Pfizer Inc's PFE consumer unit, about $15 mil.

3.  According to a recent New York Times Article, Glaxo is thre master of taking a patented drug, changing iit a bit and turning it into it an over the counter product. Genuis.

4.  "Glaxo is based in London, which provides it an extra layer of insulation from Bernanke"

5.  The stock took a hit today,  making it a good entry point to buy!

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Artwork courtsey of  Corey Pierce.