Lululemon Athletica is a phenomenon that's not going away, Cramer said Friday.

The athletic apparel maker announced Friday it boosted its yearly forecast after strong online and in-store sales helped its earnings top expectations for another quarter. Its earnings per share were 8 cents higher than analysts had forecast, and its comparable store sales rose 16 percent in the first quarter.

Just last quarter, LULU warned that it did not have enough product to meet strong demand. The company believes sales would have been up around 20 percent with more robust inventories.

According to Cramer, Lululemon is a story about gross margin expansion.

“Every clothing company has seen some margin compression or is trying to fight margin compression against LULU,” he said.

He also believes it is a bit of a “cult” stock, which can have a remarkable life as the shorts bet against it, not realizing the organic nature of sales.

LULU is a stock Cramer has been behind for some time. In this market, he would take some profits and let the rest run.

“This is a horrible market,” he said. “This stock would be up 10 to 15 points if it weren’t for the tape.”

So what would it take to change Cramer’s negative view on this “horrible” market?

He’d like to see oil down about $3 because import nations that use OPEC oil either open their strategic petroleum reserve or change the market requirements for those "hoarding oils" using futures.

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