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

People should consider getting into

Lowe's

(LOW) - Get Report

, as it has bottomed, Jim Cramer told viewers on his "Mad Money" TV show Friday.

Before the

Securities and Exchange Commission

passed Regulation FD, figuring out a company's earnings was as simple as making a phone call to the company's CFO, he said.

But now hedge funds use a new approach to decipher whether they can anticipate better-than-expected numbers.

Not only does Cramer recommend that investors listen to the company's conference call, but he also believes that people should find out all the facts.

For example, Lowe's conference call was "scary," he said. And looking at the company from the bottom up,

Stanley Works

(SWK) - Get Report

, one of Lowe's suppliers, said it had too much inventory.

This did not look good for Lowe's, Cramer said. But then on Thursday,

Black & Decker

(BDK)

reported slim inventories -- the opposite of what Stanley Works said.

Additionally,

Masco

(MAS) - Get Report

and

American Standard

(ASD)

, two other suppliers, also said business has been slowing, Cramer went on to say.

Image placeholder title

But Friday,

Fortune Brands

(FO)

came out and said the remodeling market is stable. This is the most current news, and as Lowe's serves the remake and remodel market, Cramer believes that Lowe's is going higher from here.

Moreover, there is strength in casual dining, which is a great number to help decipher consumer confidence, Cramer said.

"This tells me Lowe's has bottomed, and you can start building a position right now before it reports Nov. 20," he said.

Old-Fashioned Secularism

"When you get a stock really right, you have to take some profits," but if it works, you should stick with it, Cramer told viewers.

An example of a stock that has gone up, and will continue to do so, is

Palomar Medical Technologies

(PMTI)

, he said.

"People will always pay up for their vanity," Cramer said. "Our desire to look young, healthy and sexy is what powers capitalism."

After an excellent earnings report, Palomar is up big, he said, so if market players got into it under $40, they should take some off the table. However, "the best is yet to come," for this stock.

"The shorts don't understand how many faces Palomar has," Cramer said.

Recently, the company teamed up with

Johnson & Johnson

(JNJ) - Get Report

, which he owns for his charitable trust,

Action Alerts PLUS, and

Gillette

to produce home-use lasers.

Although the shorts are betting the

Food and Drug Administration

won't approve the deal with Gillette, Cramer believes that the FDA will. Even if it doesn't, the deal shouldn't affect Palomar too much, he said.

In addition to having the best products, Palomar also has the best patents. But the stock trades at just 30 times forward earnings, Cramer said.

"It is an old-fashioned secular growth story," he said. "Palomar is up, but it can still make people some mad money."

The Week Ahead

If people own

Deckers Outdoor

(DECK) - Get Report

, it's time to take it off the table, Cramer said.

Next week, trading is going to be affected by the election, he said. Therefore, next week the game plan is to make money off of the speculations of which party will win the race.

The Street is afraid that if the Democrats win, they will bargain for lower drug prices, which will kill big pharma, Cramer said.

Therefore, he suggests that people sell

SPDR Pharmaceuticals

(XPH) - Get Report

.

And as the Democrats also want the U.S. out of Iraq, people should sell

PowerShares Aerospace & Defense

(PPA) - Get Report

. In addition, big oil stocks and

Energy Select Sector SPDR

(XLE) - Get Report

are also sells this Monday.

"I don't believe in taking unnecessary risk," Cramer said. "If you own a big drug stock, big defense contractor or big oil stock, you should sell them this Monday and buy them back next Monday, as they will be beaten down by then."

Swap out of these sectors Monday to Monday to avoid any pain, he said. And if people believe they'll see a Democratic sweep, then they shouldn't buy these stocks back.

Market players should look at getting into alternative-energy stocks this Monday, particularly

SunPower

(SPWR) - Get Report

and

Evergreen Solar

(ESLR)

, and selling them next Monday, Cramer said.

He also advised buying homeland-security plays, such as

FLIR Systems

(FLIR) - Get Report

,

Essex

(KEYW) - Get Report

and

NICE Systems

(NICE) - Get Report

.

In addition,

L-3 Communications

(LLL) - Get Report

and

Raytheon

(RTN) - Get Report

could also work as election-expectation trades, Cramer said.

In the "Mad Mail" segment of the show, Cramer apologized to a viewer for calling

PF Chang's

(PFCB)

bearish before it went up four points.

Cramer said he got PF Chang's wrong because he was looking at its longer-term story, instead of its current facts.

Crocs

(CROX) - Get Report

is expanding its brand, Cramer told another viewer.

"The bears have been wrong and will stay wrong on this stock," he said.

Lightning Round

Cramer was bullish on

WellPoint

(WLP)

,

AU Optronics

(AUO)

,

Intel

(INTC) - Get Report

,

Yamana Gold

(AUY) - Get Report

,

Cisco Systems

(CSCO) - Get Report

and

Best Buy

(BBY) - Get Report

.

Cramer was bearish on

Grupo Simec

(SIM) - Get Report

,

Aetna

(AET)

,

Bebe Stores

(BEBE)

,

Syntax-Brillian

(BRLC)

,

Watson Pharmaceuticals

(WPI)

,

Simpletech

(STEC)

,

SanDisk

(SNDK)

,

Goldcorp

(GG)

,

Circuit City

(CC) - Get Report

and

GigaMedia

(GIGM) - Get Report

.

For more of Cramer's insights during the most recent Lightning Round,

click here.

Want more Cramer? Check out Jim's rules and commandments for investing from his latest book by

clicking here

.

At the time of publication, Cramer was long Johnson & Johnson.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com 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 TheStreet.com, 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 TheStreet.com 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, TheStreet.com 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 TheStreet.com, 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 TheStreet.com. 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 TheStreet.com, 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.