Just as Jim Cramer was beginning to worry that the price of gasoline could be jumping back up, it drops a whopping 6.6 percent in one day. But Cramer isn't concerned about that because, in his perspective, low oil prices are the gift that just keeps on giving.
"I've said it a thousand times: higher oil is bad for the stock market. Higher gasoline is terrible for the stock market. Higher heating bills are horrendous for the stock market. There's nothing more to it. End of story," the "Mad Money" host said.
Instead, Cramer has been worried about how the transport group seems to be going lower and lower each day. But then, even these worries were thrown out the window on Wednesday when oil dropped $3 based on increased pumping from the Saudis and a huge U.S. inventory.
Cramer anticipates that this drop in oil will translate to a better bottom line for airlines, a group that previously worried him. The purchases that consumers make with extra cash in their pocket from the gas pump don't just stop with clothing and food.
And now that Apple was downgraded to a hold from a buy on Wednesday, perhaps some of that extra cash will flow into the stock?
"I say that's not thinking big enough. I want you to think about the Apple Watch, which could be precisely the kind of discretionary item that might land you in the Apple store," Cramer added.
You might think Cramer's spare change thesis on the Apple Watch is far fetched, but it signifies the ultimate discretionary purchase that consumers can make. Cramer speculates that if Apple were just a watch store, people would still buy the stock.