Market Lifts Jim Cramer’s Bearish Stock Picks

The Dow Jones industrial average closed another strong week with a 24 point gain on Friday. However, investors seemed to be taking a contrarian view on Jim Cramer’s stock picks. The big gainers in Friday’s trading session were all bearish stock picks of the previous Mad Money show. 

Duoyan Global Water (DGW: 0.00 N/A) a Chinese stock that many had probably never heard of before Thursday night’s Mad Money show, gained a whopping 8.6% on Friday. In the Lightning Round segment Cramer stated, “It is a Chinese water company, the answer to a lot of people’s prayers is to try to find some play on water.” However, Cramer didn’t want to embrace DGW despite being a big believer in China. Nevertheless, the mere mention of the stock seemed to put it on the radar screen for many investors. 

Mylan (MYL: 22.53 0.00%) gain 3.3% despite the fact that Cramer said he preferred Teva Pharmaceuticals (TEVA: 44.81 0.00%) over Mylan. “You know, it has been a hot stock. If you are going to be in there, I like Teva Pharmaceutical Industries Ltd.” Teva’s stock finished virtually unchaged. 

Finally, Palm (PALM: 0.00 N/A) gained 2.2% on Friday even though Cramer recommended selling the stock and taking profits. A month ago Cramer was very bullish on Palm ahead of the release of the Pre phone, but with rumors of high return rates and low sales volumes Cramer would be selling the stock now. 

Other Cramer bullish stock picks: 

Google (GOOOG: 0.00 N/A) gained 2.1% – Cramer is bullish on tech stocks because these companies keep coming out with new products and don’t need any bailout money.

Aruba Networks (ARUN: 24.02 0.00%) rose 1.6% – “It is a buy, buy, buy… it is a little $7, $8 stock… I think that it goes higher.”

Apple (AAPL: 468.83 0.00%) jumped 1.4% – Cramer is clearly a strong fan of Apple and he believes it is the most “Washington-immune” tech stock and predicts the stock will reach $200.