Cramer's 'Mad Money' Recap: Beating the Hedge Funds at Their Game

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"Believe it or not, a lot of people want this market to go lower," Jim Cramer told the viewers of his "Mad Money" TV show Friday.

He said the big hedge fund managers wanted to break this week's market rally, but the regular investors have won out.

Cramer said there are two types of investors looking for the market to go lower. Big mutual fund managers who are under-invested and need prices lower so that they can jump in, and big hedge fund managers, who make a living shorting the markets and creating havoc.

He said the hedge fund managers were looking for bad news this week. A former hedge fund manager himself, he said he knows how these guys think, and outlined the 10 bits of news these fund managers were hoping not to hear this week.

1. Positive comments from Obama. Hedge funds hated any positive comments about the markets.

2. News about China doing well. Hedge funds want China to remain in the doldrums for awhile longer.

3. Better-than-expected retail sales figures. Hedge funds needed to see a weaker consumer.

4. The uptick rule. Hedge funds are reeling at the thought of the uptick rule being reinstated. (The uptick rule has been covered in depth this week on TheStreet.com, with featured commentary by William Furber and Eric Oberg.)

5. A profitable Bank Of America (BAC). Hedge funds were hoping for a government takeover, not a solvent entity.

6. A scared Warren Buffett. Instead the famed investor offered some hope for the future.