Jim Cramer has made it clear to investors that he was very happy to see the Federal Reserve cut rates on Wednesday. Now all Cramer wants is for China and Europe cut rates so that the U.S. and global stock markets can begin to recover and rally. He also sees a recovery for businesses and the consumer with the rate cut, as the credit markets loosen up. He says the housing market could bottom in mid-2009 if the federal government were to guarantee 3 million mortgages.

Cramer is starting to spot a possible recovery for the economy and markets. Recently, he found opportunity in stocks that benefit from a strong dollar, U.S.-based stocks and stock picks for the rate cut. Here are some Cramer highlights from over the past week as aggregated from his "Mad Money" TV show, the "Stop Trading!" segment on CNBC and his RealMoney blog posts (these blog post links require a RealMoney subscription).

Cramer's Strong Dollar Stock Plays: Cramer sees opportunity in stocks that benefit from a strong dollar. In an Oct. 30 blog post, he wrote: "Strong currency markets do bring money into themselves. We have the best currency on earth, and a way to take part in one of the only bull markets in the world is to buy stocks. " Cramer's Strong Dollar Stock Plays include Pfizer (PFE).

Cramer's Solar Stock Sells: Is it time to sell solar stocks? On last Thursday's "Stop Trading!" segment, Cramer told viewers: "It's over! Duke Energy (DUK) had to cut back in solar." Cramer's Solar Stock Sells include First Solar (FSLR).

Cramer's U.S. Stock Picks: Cramer says U.S. stocks look more attractive than their overseas counterparts. On Monday's "Mad Money" TV show, Cramer told viewers: "Europe is due for rate cuts, and Hong Kong, too, is struggling, the strength of the dollar allows the U.S. to sidestep a similar crash." Cramer's U.S. Stock Picks include Verizon (VZ) and Altria (MO).

Cramer's Rate Cut Stock Plays: Cramer says high-yielding dividend stocks and companies that rely on exports will benefit from the rate cut. On Wednesday's "Mad Money" TV show, Cramer told viewers: "The Federal Reserve is on board at last, although it came a year too late." Cramer's Rate Cut Stock Plays include Caterpillar (CAT) and Eaton (ETN).

Cramer's Ignore Homework Stocks: Cramer says doing homework on stocks has become irrelevant right now. In Oct. 29 blog post, he wrote: "If you want to participate in the rally that went on Tuesday I have a very specific suggestion: Don't do any homework. And don't listen to any conference calls." Cramer's Ignore Homework Stocks include Apple (AAPL) and Occidental Petroleum (OXY).

Cramer's Pays to Wait Stocks: Cramer says this brutal market pays you to wait. In an Oct. 23 blog post, he wrote: "I have never, in my career, been in a market where it paid more to wait to see what price you could get. It reminds me of the collateralized debt obligation market. Every day you have waited has been better." Cramer's Pays to Wait Stocks include Foster Wheeler (FWLT).

(Editor's note: At the time of publication and/or original publication of his posts and shows, Cramer owned Foster Wheeler and Altria for his Action Alerts PLUS charitable trust.)

Posted on Oct. 30, 2008