Cramer's 'Mad Money Recap': Debating the Market's Bottom Doesn't Matter

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Jim Cramer took up the protracted debate over the market's bottom on his his Mad Money TV show Friday.

Cramer said he is not taking sides in the debate, trying instead to remain flexible.

Noting there are arguments both for and against calling a bottom in the stock market, he emphasized just having the debate itself is a good sign.

On the upside, Cramer cited the PHLX Housing Sector Index. "This home building index won't go down, despite the fact home builders are reporting horrible numbers," he said. "When you get bad news and nothing happens, that's a bottom."

On the downside, he pointed out, there are still many bearish arguments, including the weakening dollar and consumer confidence. While home prices may be stabilizing in some areas of the country, they continue to weaken in others.

Cramer said he's looking to Lowe's (LOW Quote) and Home Depot (HD Quote), both of which report next week, for clarity on the real state of the housing market.

Overall, Cramer told viewers that he's sticking with the same long-term themes he's discussed over the past few weeks. And that they are international infrastructure, oil and natural gas, mining and minerals, and defense stocks. He also likes his "new technology" companies that are making real solutions for real problems.

"From where I'm sitting the debate is mute," said Cramer. "Bottom or no bottom, I'm sticking with what works."

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