TheStreet.com TV Recap: Fed Move Changed Friday Landscape

Jim Cramer said that in the first couple of hours of trading on Friday, people who owned stocks and didn't count on a rate cut sold those stocks.

That lasted until about 1 p.m. EDT, when the last of the brokers called their clients and said they had to put up some money for stocks like Sears (SHLD Quote), which Cramer owns for Action Alerts PLUS, or MasterCard (MA Quote). "Those all rallied at the end," Cramer said on TheStreet.com TV's Wall St. Confidential Web video Monday.

Taking the NYSE Euronext (NYX Quote), which he also owns for his charitable trust, as an example, Cramer said people who owned its August $70 call pretty much figured they'd be wiped out. However, in the last 45 minutes "the stock exploded upward," he said. ...