NEW YORK (TheStreet) -- On his Friday Stop Trading! segment on CNBC, Jim Cramer said he was seeing money-making opportunity in Europe's "long-term bleed."
On the other hand, if the selloff sparked by Europe's debt crisis had been just an overnight event, the opportunity wouldn't have been as strong, he pointed out.
Cramer noted that U.S. equities markets seemed less nervous Friday after the passage of the financial reform bill by the Senate and as China looked increasingly likely to have an economic soft landing; worries about further credit tightening in the country were easing Friday.
Cramer said it now looked as though financial regulation would be thinner than expected. Senator Blanche Lincoln's move to restrict derivatives trading at U.S. banks, he said, is "never going to make it."
As Cramer noted, stocks rebounded Friday, with shares of mining-equipment companies
One of Cramer's biggest stock picks of the day was
. Even though negative headlines followed the company's first quarter earnings release, Cramer pointed out that Salesforce.com has actually been experiencing impressive growth.
The company's cash from operations and transaction volume have both increased more than 40% from a year ago, he said.
-- Reported by Andrea Tse in New York
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