NEW YORK (TheStreet) -- TheStreet's Jim Cramer told investors that because of the October nonfarm payroll data -- 204,000 new jobs, vastly higher than economists' expectations of 120,000 -- bonds will likely go lower.

Meanwhile, yields and interest rates will head higher, something that's usually bad for stocks. 

He does not like an environment where interest rates rapidly rise, but suggested that good news would ultimately be good news within a couple of trading sessions. The more jobs that are added to the economy, the sooner the Federal Reserve can leave and the focus can shift back to earnings. 

Gap (GPS) beat comparable-store growth estimates and raised its guidance, and Cramer said he was wrong for doubting the company. In his defense, he noted that Goldman Sachs downgraded the stock and management said things weren't going so well.  

However, with shares surging higher in Friday's trading session, he suggested investors wait for a pullback below $40 before buying.  

Switching to Disney (DIS), Cramer called the analysts "stupid" for always nitpicking the earnings results on the conference call. He said Disney's ESPN unit is doing well, as are its theme parks, the Marvell acquisition and the movie schedule.

Cramer concluded that Disney is fine and CEO Bob Iger is "one of the great, most bankable executives in the country."

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

More from Opinion

Elon Musk's Latest Twitter Tirade Is the Dumbest Thing on Wall Street

Elon Musk's Latest Twitter Tirade Is the Dumbest Thing on Wall Street

Elon Musk's Twitter Tirade Is the Dumbest Thing on Wall Street

Elon Musk's Twitter Tirade Is the Dumbest Thing on Wall Street

Why Google's Search Momentum Won't Be Badly Hurt by New EU Rules

Why Google's Search Momentum Won't Be Badly Hurt by New EU Rules

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Flashback Friday: Amazon, Chip Stocks, Memorial Day

Time to Talk Tesla: What Happened This Week, Elon?

Time to Talk Tesla: What Happened This Week, Elon?