Cramer's buying this as oil swings

Cramer: I'm making a call on oil
Cramer: I'm making a call on oil   

Here we go, again. The critics have crawled out of the woodwork, and there is yet another showdown between Germany and Greece to create looming fear amid investors. Though that fear had negative implications on the market on Wednesday, it actually helped the oil patch.

Now hold on a second, because Jim Cramer is calling bluff and thinks people are blowing this Europe thing way out of proportion.

From a practical standpoint, even if Greece's finance minister, Yanis Varoufakis, actually does scare the pants off of Angela Merkel in Germany, that is good news for the U.S. stock market. It will shoot through the roof, as all of this money waiting on the sidelines for this drama to end.

What about the worst-case scenario, and Greece is booted from the euro zone?

"Now, people a lot smarter than I am but without a TV show would tell you this could have some huge ramifications for the Swiss franc and the Danish krone, if not the Hungarian forint," said the"Mad Money" host on Wednesday.

Regardless of how the Greek situation is resolved, the "Mad Money" host's favorite stocks will not be affected. He recommended stocks such as Zoetis, which hit an all-time high on Wednesday, or Rite-Aid and Chipotle, which have come back to life.

"You need to recognize that Europe has been the gift that keeps on giving, literally for years now, with each new crisis creating incredible buying opportunities," said Cramer.

As for the oil patch, Cramer recommended to not roll the dice and only stick with high-quality oil companies.

"In the food chain of companies that are horrible in the oil patch, Seadrill is right down there. Why not up your game and go with a Schlumberger? It's a great company, whether oil is at $40 or $140."

Read More Cramer: Thanks Europe—good news for your portfolio

Jim Cramer on Mad Money.
CNBC
Jim Cramer on Mad Money.

One company that is right in the sweet spot of Europe is Cisco. The company proved its dominance after reporting a strong 2 cent earnings beat from a 51 cent basis on Wednesday. It is seeing increased demand on switches and routers, causing higher than expected revenues.

To find out if the stock can keep roaring, Cramer spoke with Cisco CEO John T. Chambers.

"I think Europe is in a return state….We are talking about how to bring this connectivity to countries and businesses," said Chambers. "You will see countries in Europe move faster than the U.S. in terms of digitizing their whole economy, digitizing their business, changing their GDP growth, job creation, healthcare and education. We are right in the sweet spot of all those."

Chambers confirmed that his business saw 20 percent growth in southern Europe, 17 percent in the United Kingdom and 12 percent in Germany.

Read More Cisco CEO to Cramer: We're in Europe's sweet spot

However, sometimes a CEO knows when it has a valuable company, and sometimes he does not.

Tim Cook certainly knows the value of Apple. That is why he has been borrowing money to buy back shares of Apple. He knows it's worth way more than people realize.

Cramer suspects that the market is holding back Apple, because it is skeptical that its market cap is so darned high. Rumors are now swirling that it is worth more than the Russian stock market and valued higher than both Google and Microsoft combined.

"In short, Apple's stock should be worth more, perhaps much more, which is why, as always, I say don't trade it, just own it," said Cramer.

Read MoreCramer: Apple is worth a ton more than you think

Dentist
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Amid the volatility of the markets recently there is one industry that has been climbing at a steady pace that just might surprise you—dental.

Henry Schein is the biggest distributor of products and services for both dentists and veterinarians. It has gained a spotlight recently as being a major supplier of vaccines as well.

Yet, when the stock reported on Wednesday, the stock was slammed at first and managed to make back the gains by the end of the day. Perhaps investors realized the numbers were actually pretty darned good? It delivered a 6 cent earnings beat from a $1.50 basis.

To find out, Cramer sat down with Henry Schein CEO Stanley Bergman.

"We haven't seen all of the reports yet, but we think there were some that overreacted to a slightly negative amount of sales in the dental equipment area. That was driven because the tax accelerated appreciation was only reinstated for about a 10-day period this year, and was just too late," said Bergman.

In the Lightning Round, Cramer gave his take on a few caller favorite stocks:

Homeaway: "I think the concept of Homeaway is fantastic, I think the execution is good. I think the stock market is saying that it's overvalued unless it gets taken over. I'm going to say down here, don't give up on Brian Sharples. Buy buy buy."

BB&T Corporation: "I like BB&T, and I also like KeyCorp which is terrific. My favorite in the group is SunTrust. By the way, every single pattern and line on the charts are lining up for the banks. You've got a good one."

Read More Lightning Round: Charts are lining up for this group

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