Cramer's 'Mad Money' Recap: What to Buy Now

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"It pays to expect good things to happen," Jim Cramer said on his "Mad Money" TV show Friday. Calling it "a great day for the market," Cramer told viewers that "suddenly the rules of this game have changed."

Claiming ownership of the "Fed rate story from two weeks ago," Cramer said that his "heart-felt plea" from "Stop Trading!" was heard loud and clear. In turn, the Federal Reserve pulled "a 180," slashing its discount rate by 50 basis points to 5.75%.

This delighted Cramer, who said that the Fed's action ensures available cash for troubled banks.

Reflecting on a pick from Thursday, Cramer pointed out the continued success of Wells Fargo (WFC Quote). However, he apologized for not giving viewers enough notice to buy in for great profits.

Cramer said that with the actions of the Fed, investors are "now playing offense." But they must remember that they are now undergoing a change "in psychology, not fundamentals."

Ultimately Cramer believes that analysts will be urging investors to "buy, buy, buy" after the weekend.

Cut-Rate Buys

"If the rate cut really helped, where was that 500 point rally?" Cramer asked his viewers. But more optimistically, he believes that today's strong market "averted a 1,000-point decline" that would have taken place "over the course of today and Monday."