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"It's time to trust the markets and trust this upward move," Jim Cramer told viewers of his "Mad Money" TV show Friday.

This move is so powerful that it almost doesn't matter which companies you buy, he explained, as long as they're in the sectors that matter.

Cramer said a panicked

Federal Reserve

, a desperate Republican Party and a "raving bunch of Democrats" are contributing to the new bull market. In this environment, he said, everything will move higher.

Cramer said this market is so good that he made the unprecedented move of removing Lee Scott, Chairman and CEO of


(WMT) - Get Free Report

, from his "Wall of Shame." "It doesn't matter who runs Walmart," he explained, "because people shop at Wal-Mart during times of economic slowdowns."

In this market, even the bad news doesn't matter, he explained. Cramer cited


(FCX) - Get Free Report

, which he owns for his charitable trust

Action Alerts PLUS, as a stock that's up almost 20 points since it reported disappointing earnings.

He also said


(MCD) - Get Free Report


CVS Caremark

(CVS) - Get Free Report

, are following a similar pattern. He owns both stocks for his

Action Alerts PLUS portfolio.

Cramer remains bullish on retailers. He likes

TJ Maxx

(TJX) - Get Free Report

. He's also still a fan of the railroads including

Union Pacific

(UNP) - Get Free Report



(CSX) - Get Free Report


Burlington Northern

( BNI).

"And let's not forget the agriculture stocks," he reminded viewers.

But there's a special place in Cramer's heart for the bank stocks. Cramer said he likes

Capital One

(COF) - Get Free Report

, which recently raised its dividend and boosted its stock buyback.

He also likes

Merrill Lynch

( MER),

Washington Mutual

(WM) - Get Free Report



(C) - Get Free Report

. The latter is a stock which he owns for his

Action Alerts PLUS portfolio.

Cramer also reiterated a buy on

NYSE Euronext


, which he also owns for his

Action Alerts PLUS portfolio. He said he would buy NYX before it reports its earnings on Tuesday.

And finally, responding to Friday's news, Cramer said he would also buy


(MSFT) - Get Free Report

at under $30 a share, after its surprise takeover bid for




Turning Trash into Profits

For "Speculation Friday," Cramer said investors need to return to China, and look into

Gushan Energy

( GU). Chinese stocks have been out of favor recently, Cramer said, but that won't last for long.

Gushan Energy, a Chinese maker of biodiesel fuels, is profitable and growing rapidly, he said. The company grew its earnings by 48% year over year and maintains a long-term growth rate of 20%.

Cramer says Gushan has three things going for it. First, it's a play on the growing middle class in China that needs more energy. Second, China has a real desire for cleaner air. The Chinese government has mandated that by 2020, 15% of China's energy must be renewable.

Finally, Gushan's stock has been flying under the radar of Wall Street. The stock has hovered around its offering price since it debuted last December, but Cramer said the stock will head higher once the company gains some attention.

A Good Bet for the Housing Rebound

Cramer told viewers that the single best risk-reward offering in the market right now is toolmaker

Black & Decker

(BKD) - Get Free Report


"This is the right stock at the right price at the right time," he said. Black & Decker is a great company, but also greatly hated on Wall Street, he explained.

Cramer said Black & Decker is a play on the coming rebound in housing. Consumers, he expects, will start fixing up the homes that they have been unable to sell.

All of the bad news has been "baked" into the share price, Cramer explained. The current price presumes a recession is coming, and that means the stock isn't likely to go any lower.

Cramer also likes Black & Decker for its buyback program. The company has cut its float by almost a third in recent years and has increased its dividend as well, all without increasing its debt, Cramer noted.

In 2004, Black & Decker had 81 million shares outstanding and was at $90 a share, making it a $7.2 billion company.

But today the company has just 63 million shares outstanding at $73 a share, making it just a $4.5 billion company, even though there's been a 20% increase in sales since then. "Black and Decker is so cheap that it's begging to be bought," Cramer said.

Fund Advice

Cramer welcomed Brian Ferguson, manager of the

Dreyfus Premier Strategic Value Fund

(DAGVX) - Get Free Report

to the show to discuss his investment strategy. The fund has yielded an average annual return of 18% since Ferguson began managing the fund in 2003.

Ferguson said now is not the time to fight the

Federal Reserve

. Aggressive monetary policy, he said, is the premier leading indicator for bull markets in the financials and he's adhering to his strategy and sticking with the financial stocks.

Cramer said he's sticking with Ferguson and recommending the Dreyfus Strategic Value Fund as one of the best aggressive growth funds out there.

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Lightning Round

Cramer was bullish on

Focus Media

( FMCN),





(PPL) - Get Free Report



(EXC) - Get Free Report


Countrywide Financial

( CFC)and

National Oilwell Varco

(NOV) - Get Free Report


Cramer was bearish on

Harman International



VisionChina Media




(MGI) - Get Free Report





Brocade Communications



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

clicking here


For more of Cramer's insights during the Lightning Round, click here


At the time of publication, Cramer was long Freeport-McMoRan, McDonald's, CVS Caremark, Citigroup and NYSE Euronext.

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.