Cramer calls the market bottom: Safe to buy again

Cramer: We have an investable bottom
Cramer: We have an investable bottom   

It was checkbox galore on Friday, finally!

On Monday, Jim Cramer released his checklist of 10 steps that needed to happen for the market to reach a sustainable and investable bottom. As of Friday, the "Mad Money" host thinks investors are in the clear to do some buying again.

"We got movement on every single issue I have needed to find an investable bottom, and that's exactly what we might have found here," Cramer said.

To review the progress on Cramer's checklist, every group was hit this week, finally. It wasn't just tech and oil, but other areas such as high-yield, utilities and safety stocks that took the plunge. That is a good sign in Cramer's perspective, as there was finally no place to hide. Check!

Though there won't be a true end to the Ebola scare until a vaccine is created, President Obama put focus on the epidemic and provided the country with assurance when he appointed Ron Klain the "Ebola Czar." Check!

Speculative stocks were also hit this week, when Netflix dropped 19 percent on Thursday. Check!

Jim Cramer on set of Mad Money
CNBC

Even oil found footing when there was final capitulation of those who had been hanging on for a bottom. That allowed oil to rally and relieve investor stress. Check!

"I cannot stress how important a bottom in oil is because oil has been seen as a bellwether of not just our economy, but the world's economies," Cramer noted.

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Though the market is not in the clear for such issues as tech stabilization, Europe and China; progress has happened. Italyand France sided with the European Central Bank and agreed that action needs to be taken in the German economy. Cramer also thinks that there could be progress with China, as there have been multiple reports that the government there may announce that it will put more money into banks to help with lending.

And finally, there was love spewing out of the earnings reports with positive results from General Electric, Honeywell and Morgan Stanley. That gave investors much needed positive news.

While the future could hold more Ebola outbreaks and earnings disappointments going forward, Cramer is optimistic. "I can only conclude from all of these checked boxes, that we have an investable bottom on our hands and, at last, it is safe to do some buying."

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