Cramer's 'Mad Money' Recap: Market Wants to Go Higher (Final)

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NEW YORK (TheStreet) -- "This market is hard to kill," Jim Cramer told the viewers of his "Mad Money" TV show Wednesday.

He said the markets have been surprisingly resilient given the prospects of a bad unemployment number coming on Friday.

What are some examples of this resilience? First, cited how Ford (F), reported disappointing July sales number, only to end the day higher. He said the same could be said for stocks like BP (BP) and Goldman Sachs (GS), a stock which he owns for his charitable trust, Action Alerts PLUS. Both companies had their scandals, but are now higher.

The same applies for other stocks as well, companies like IBM (IBM), Johnson & Johnson (JNJ) and Amazon.com (AMZN). All three companies reported disappointing results and got hit hard, but are now trading higher than before the reported.

Other signs of resilience include no negative pin action, said Cramer. When Baker Hughes (BHI) reported disappointing results, the stock got hammered, but its rivals rose.

Then there's the Standard & Poors Oscillator, a measure of whether the markets are overbought or oversold. Cramer said that indicator is in the red zone of +10, but no severe sell off has happened.

Finally, Cramer said the shorts are just getting crushed, whether it's Priceline.com (PCLN), which rallied $50 today, or others like Polo Ralph Lauren (RL) or Jones Apparel (JNY), in which the shorts are getting squeezed and caught with their pants down.

Cramer said the market's game of chicken with Friday's labor number is just one more sign that the market wants to be higher. But in the meantime, he said, there is no crime in doing a little profit taking.

Botox Boost

In an exclusive "Executive Decision" segment, Cramer spoke with David Pyott, chairman and CEO of Allergan (AGN), which reported better-than-expected earnings of 85 cents a share, four cents higher than estimates, on strong revenue up 10% from year-ago levels.

Pyott painted a rosy picture for Allergan, citing the company's ophthalmology business as "a great spot to be in." He said Allergan grew its business by 10% world wide, keeping pace with the world average, and with only two big companies left in the space, Pyott said he expects great things.

However Pyott's biggest opportunity in the near future comes from the possibility of company's flagship product, Botox, receiving approval for use as a migraine treatment. Pyott said Botox was approved in the U.K. for such treatment, and the company is now filing in other countries. He said for the 1.2 million to 3.6 million people in the U.S. that suffer 15 headache days or more a month, Botox could cut that number in half with just a few injections of Botox around the scalp.