Segment 1: Reporting vs. Predicting

Cramer said that it is important to remember that bad news today doesn’t mean that you should panic, or that things will be bad 6 months from now. Because the stock market is more concerned with the future than what is going on today, you need to keep your focus on predicting what will occur rather than what has happened. He then predicted that in the next 6 months, foreclosures will peak, housing prices will bottom, and banks will benefit. He recommended buying Wells Fargo (WFC) and NVR (NVR), which is a profitable homebuilder and a play on the expansion of the federal government. He also likes PACCAR (PCAR) as a play on a rebound in the trucking business because this truck builder has over $4 in cash, pays a solid dividend, and is well run. He is sticking with his bullish tech recommendations for mobile internet phones and networks, and specifically recommended Apple (AAPL). He also thinks that healthcare can rally because it is now out of the spotlight, and natural gas will rebound because it is so cheap.

Cramer took phone calls on the following stocks:

Accenture (ACN): Cramer is bullish on this stock and said that it will do well along with Hewlett Packard (HPQ) and IBM (IBM).

Segment 2: Interview with Allscripts (MDRX) CEO Glen Tullman

Cramer said that this company beat earnings and raised guidance when it reported its quarter on Wednesday night, and its stock hit a 52 week high on Thursday. Cramer has been bullish because this is a great play on Obama’s plans to use technology to cut medical costs. The stock is up 83% since the last time they spoke to the CEO, and is up 300% from its lows, so Cramer said that you should take profits if you got in when he first started recommending it, but he wanted to talk to the CEO to see if the stock will keep heading higher. Cramer started off by asking why Deutsche Bank has a sell rating and thinks the company’s outlook is hard to predict, and the CEO said that he disagrees with the analyst, and he thinks they are just getting started selling their software because they only have 5% penetration in their market, and they just introduced a new distribution channel that has increased the size of their distribution network 5 times. Cramer then asked if they still have room to grow, and the CEO said that they haven’t seen the effects of the stimulus spending yet, so they expect to see spending increase. Cramer’s next question was about the impact of problems with hospital spending, and Tullman said that 80% of healthcare is administered outside of a hospital, and there is plenty of room for growth there, plus hospitals have been cutting back on large expenditures, but not on cost saving products like theirs. Cramer ended by asking if a healthcare reform bill is actually going to be passed by Congress, and Tullman said that the IT portion has already been passed with a $44,000 credit per doctor. Cramer thanks him for generating so much value, and said he is still bullish.

Segment 3: Speculation Friday

This week, Cramer recommended speculating on higher energy prices by buying Continental Resources (CLR). The stock dropped from $84 to a low of $12 as oil prices dropped, but has now rebounded to $27.57 with oil prices around $70 a barrel. The company has cut the time it takes to drill a well from 45 day to 30 and cut its production costs, so it is a better run company than when oil prices were higher, plus it cut production and avoided taking on debt as the economy slowed down. He thinks it is a good play on oil prices because their oil production isn’t hedged, and their holdings in the Bakken Shale could hold more oil than current estimates predict. He also thinks that the company is a potential takeover target because the stock price is so low, and that now is the time to buy because the stock is out of favor.

Segment 4: Lightning Round!

Jabil Circuit (JBL): Cramer is bullish on this stock.

First Solar (FSLR): Cramer is bullish and said this is the only solar stock he will recommend.

AstraZeneca (AZN): Cramer is bullish on this stock because of its 6.8% yield.

Occidental Petroleum (OXY): Cramer is bullish on this stock.

MGM Mirage (MGM): Cramer is bearish on this stock because he doesn’t like the casino sector.

Wyeth (WYE): Cramer is bearish and called this his last favorite drug stock.

Rambus (RMBS): Cramer would rather own AMD (AMD).

Segment 5: Outrage of the Day

Cramer is outraged that the federal government is ignoring the potential of natural gas as a bridge fuel to renewable sources of energy, and said that it is due to a lack of lobbyists for the sector in Washington DC. He is unhappy that the cap and trade bill discourages the use of natural gas, and that the sector allows itself to be pushed around by the farming and ethanol lobbies.