Friday was a good example of everything that can happen when things go right on the stock market. It was a work of true beauty, in Jim Cramer's eyes. The monthly job report had just enough growth without inflation, calm oil, a boring dollar and strong earnings. A great Friday!
However, there were also some huge takeaways from this action. In preparation for a new week, Cramer outlined the lessons below.
First, the market will hit just when you least expect it. As soon as you are so pessimistic that you're ready to sell everything and the charts look like everything will implode, BOOM. That's when it rallies.
Second, interest rates have finally peaked for 2015. They've done nothing but rise for the year, but now there is no real inflation and Europe is doing better. If the European economy is starting to grow, then why the heck would our rates be much higher than them?
Third, if Europe is really as strong as Cramer thinks, then he expects American companies will do much better overseas. Just take one look at McDonald's when it announced a positive surprise in Europe on Friday morning.
Lastly, Cramer reminded investors that the right time to buy is when companies give you a discount. Pretend you're in the supermarket and want the best price! When all of the traders are freaking out, that is the time to buy.
"When everything went right today, it was, sadly, too late. You don't get a chance to buy after we get good news. You have to buy when others are panicking," the "Mad Money" host said.
So, now that everyone is on the same page, Cramer revealed the top stocks that he will be watching next week: