Click here for an archive of Jim Cramer's Mad Money recaps.

"Not all news is surprising," Jim Cramer told viewers of his "Mad Money" TV show Friday.

He said that when analyzing why the market only dropped 143 points after such a horrible unemployment number, he concluded that the market simply saw this bad number coming, and that the bad news was already baked into the Dow.

"We've finally reached the moment where everyone is convinced that everything bad is already priced into the market," said Cramer.

Why did stocks like


(AA) - Get Report



(INTC) - Get Report

, both of which reported horrible quarters, only fall slightly before rebounding? Cramer said it's because Alcoa was already down 65% from its highs, and Intel was already down 38%.

Cramer continued to say that while much of the bad news is now behind us, that does not mean that there's good news ahead.

He predicted the markets will likely be range-bound as the recession unfolds. "Don't expect much from the market when the economy does nothing more, or nothing less, than what's expected," he said.

Cramer: Forget Jobs Data -- It's a Technical Market

var config = new Array(); config<BRACKET>"videoId"</BRACKET> = 10457033; config<BRACKET>"playerTag"</BRACKET> = "TSCM Embedded Video Player"; config<BRACKET>"autoStart"</BRACKET> = false; config<BRACKET>"preloadBackColor"</BRACKET> = "#FFFFFF"; config<BRACKET>"useOverlayMenu"</BRACKET> = "false"; config<BRACKET>"width"</BRACKET> = 265; config<BRACKET>"height"</BRACKET> = 255; config<BRACKET>"playerId"</BRACKET> = 1243645856; createExperience(config, 8);

Going Back to School

Is there a company that actually makes money when more people lose their jobs?

Cramer said there is, and that company is

American Public Education

(APEI) - Get Report

, which he highlighted for his "Speculation Friday" segment.

Image placeholder title

American Public Education owns and operates both American Military University and American Public University, two primarily online schools offering substantially reduced tuitions to its students. Tuition for undergrads is typically 60% lower than traditional state schools and 90% lower for graduate programs.

Cramer said the research is clear, for every 1% increase in unemployment there's a 2% uptick in enrollment at colleges and universities as people go back to school in larger numbers to learn new skills and make themselves more marketable to employers.

Cramer said American Public Education is unique in the fact that 60% of its students are in the military and that it's a well-funded organization committed to bettering its personnel. And since American Public's classes are online, they're often perfect for the hectic schedules of military participants.

With estimates predicting 41% revenue growth in 2009, Cramer said investors will be hard pressed to find that kind of growth anywhere else in the market.

American Public Education recently issued a secondary offering of stock at $37.50 a share. Cramer urged investors to be patient, and let the stock come to them. He said $37 a share would be the price to pull the trigger.

Once Hated, Now Loved

In a surprising change of heart, Cramer added home improvement retailer

Home Depot

(HD) - Get Report

to his list of the "Top 5 Dow Stocks For 2009."

Home Depot joins


(HPQ) - Get Report



(VZ) - Get Report


Johnson & Johnson

(JNJ) - Get Report



(CAT) - Get Report

, which were featured earlier in the week.

Cramer said Home Depot is a play on the coming housing bottom, which he still predicts is only 171 days away. He said the combination of historically low interest rates with a federal government now pulling out all the stops to help people buy and save their homes with be a boon for Home Depot.

"People will be buying homes and fixing them up," said Cramer, who admittedly still likes competitor


(LOW) - Get Report

, but noted that since Lowes was not a Dow stock, it couldn't be added to his favorite Dow stock list.

In addition to the macro-economic forces pulling in Home Depot's favor, Cramer likes the internal changes at the company now that former CEO Bob Nardelli has resigned. He said the company is getting better with both its pricing and inventory management. Cramer also likes Home Depot for its juicy 3.8% dividend yield.

Image placeholder title

Mad Mail

In this segment, Cramer told a viewer that he thinks

Molson Coors

(TAP) - Get Report

is a terrific stock to own here.

When asked about owning

Shaw Group


, Cramer told a second viewer "I think you're in excellent shape with that stock."

Lightning Round

In the Lightning Round, Cramer was bullish on

Kraft Foods



Quanta Services

(PWR) - Get Report


Anadarko Petroleum

(APC) - Get Report



(MCD) - Get Report


Cramer was bearish on

SPX Corp



Crosstex Energy






Chipotle Mexican Grille

(CMG) - Get Report


Pre-Paid Legal Services




(IR) - Get Report


AK Steel Holding

(AKS) - Get Report



(NUE) - Get Report


Allied Capital



Check out the latest edition of

"Cramer's Take onTop-Searched Stocks" on Stockpickr.

Image placeholder title

P/>Want more Cramer? Check out Jim's rules and commandments for investing by

clicking here


Read more of Cramer's Mad Money Lightning Round insights


For "Mad Money" performance statistics and other links, check out Mad Money stats

At the time of publication, Cramer was long Quanta Services.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.