Cramer's 'Mad Money' Recap: Media Mistakes

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Jim Cramer told viewers of "Mad Money" TV show Friday that the media has been preoccupied with the bear market in its stories.

He said the press usually dwells on controversy at the expense of positive stories about the market. Thus, while the media focuses on how rising bond yields are choking off the recovery, the market continues to surge higher in typical bull market fashion, he said.

Cramer mentioned 10 stories the media has missed.

1. While seen as a negative by many, a weaker collar is all part of the Federal Reserve's master plan and is a boon for companies competing overseas, he said.

2. There have been two months of rising home prices in California. There is life in the housing market if you know where to look, he said.

3. Despite the headlines, consumers are still shopping but they're playing it smart and putting their money where the bargains are, he said.

4. The tech rally is getting stronger and broader, he said.

5. Stocks are not being rocked by bad news, he argued. Instead their prices are holding steady or heading higher and that's bullish, he added.

6. Runaway commodity prices does not equal hyperinflation, he said. Cramer sees some increased demand and some speculation going on, but he does not see hyperinflation in commodity prices.

7. New equity is being absorbed, he said. Almost 70 billion of new equity were issued by banks and others in May, and the market absorbed it all with flying colors, he said.