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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.

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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.

8. Foreign markets are beginning to rally, helping to boost our own market, he said.

9. Commercial real estate is holding its own, he argued. According to Cramer, there hasn't been a collapse in commercial real estate as many have forecast.

10. Money is flowing into the markets from mutual funds, he said.

For all these reasons, Cramer said he's not worried about bond yields or whatever the negative news of the day might be.

Adult Education Pays

As the bulls and that bears battle it out in the for-profit education sector, Cramer said he's got one stock that plays for both teams.

He recommended newcomer

Bridgepoint Education

(BPI) - Get Zovio, Inc. Report

as a safe way to invest in adult education.

According to Cramer, the bull case for this sector is that as people lose their jobs, they go back to school. But the bear case says that the Obama administration may be targeting the group, as they take government loans and grants and use that money largely for marketing, not educational, purposes.

Enter Bridgepoint, a stock that just had a IPO in April, and one that hasn't seen the big rally of its peers. The stock is only up $2 from its IPO price, said Cramer, yet is growing faster than its peers. Bridgepoint expects its student body to double in size in 2009 and is trading at just 14 times its earnings despite its 20% growth potential.

Cramer said Bridgepoint is a safe bet since its tuitions are 30% to 50% lower than its peers and its marketing costs only account for 35% of the company's expenses. This makes it less of a target should the government take notice of the group, said Cramer.

He called Bridgepoint a great operator and a way to play the upside while still limiting the downside risk.

Speculation Friday

For Speculation Friday, Cramer recommended

Bank Of America

(BAC) - Get Bank of America Corp Report

as a way to play the bottom in the housing market.

Citing the rise in the median home price in California, which is now up two months in a row, Cramer said the bottom in the housing market is already upon us in the state that matters most. He said the inventory of unsold homes is shrinking, with just a 4.8-month supply. More importantly, the number of transactions is rising.

This is good news for Bank Of America, which makes the bulk of its money on the number of loans it processes. With its acquisition of Countrywide Home Loans, Bank Of America is now a powerhouse in the mortgage origination market.

Cramer said as soon as Bank Of America completes the sale of its secondary offering, the company will be able to pay back its government TARP money and will be operating with a clean balance sheet. He said former-CEO John Thain is gone, the bad loans are off the books, and Bank Of America is ready to run.

Outrage of the Day

Cramer once again took up his one man crusade to bring back the uptick rule, a rule designed to limit the effect of short-selling on the markets.

Cramer held up a petition of 5,691 names, including many Wall Street professionals who are proponents of reinstating the uptick rule. He said the petition will be hand delivered to the Securities and Exchange Commission on Monday morning as part of their public comment period. (Follow this link to see a copy of the

petition being sent to SEC

and a link to add your comments on the SEC site.)

TheStreet Recommends

As a seasoned professional who made a lot of money shorting stocks himself, Cramer said it's a joke to think that reinstating the rule would cause harm to the markets, as some opponents suggest.

He said the opponents are counting on the naiveté of the public and the SEC to keep the status quo. He urged everyone to make their voices heard and help level the playing field for all investors by bringing back this most crucial rule.

Lightning Round

Cramer was bullish on

Bristol-Myers Squibb

(BMY) - Get Bristol-Myers Squibb Company Report


PPG Industries

(PPG) - Get PPG Industries, Inc. Report



(VZ) - Get Verizon Communications Inc. Report


Broadwind Energy

(BWEN) - Get Broadwind Energy, Inc. Report


First Solar

(FSLR) - Get First Solar, Inc. Report





Cramer was bearish on


(GSK) - Get GlaxoSmithKline plc Sponsored ADR Report


Check out the latest edition of

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

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At the time of publication, Cramer was long Bristol-Myers Squibb.

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