On a hideous day like Wednesday on the market, Jim Cramer likes to remind investors that there are still a few positives lingering out here. It is just a matter of willing to do the work to find them, such as the case with low interest rates—a big positive for the housing sector.

"The idea that rates could be headed lower, perhaps a lot lower, is something to hang your hat on. Especially at a time when many people still believe that the Federal Reserve will try to tighten in the near future, despite the fact that the global economy is in turmoil and a rate hike would do serious damage to the market," the "Mad Money" host.

That is why Cramer decided to take a closer look at what the charts predict for interest rates with the help of Bruce Kamich, a chartered market technician, professor at Baruch College and colleague of Cramer's at RealMoney.com.

It is also important to review inflation when dealing with the topic of interest rates, because rates go higher when inflation is higher. However, rates tend to do nothing or go lower when we have no inflation or actual deflation.

Kamich took a look at the chart of crude oil futures going back to the late 1980s. On Wednesday, the price of oil dropped to a near six-and-a-half-year low, breaking the $41 level, and Kamich believes that the price can go a lot lower. In fact, he thinks oil futures could sink all the way down to where oil bottomed during the Great Recession.

Why does this matter for interest rates?

It matters because oil prices are a good indicator of inflation, so when oil is in a free fall that is a powerful sign of deflation. When there is deflation, it typically means that bond prices are headed higher, and yields will go down.

Read More Cramer: Oil's free-fall is good for interest rates

That's it, Cramer has had enough! Despite all of the negative market news on Wednesday, he decided to point out positive things that are happening now.

"Before I get all positive, here's a caveat: nothing I'm about to say will mean anything to you unless you have at least a 10-day time horizon," the "Mad Money" host said.

To fully explain, Cramer recalled the old days, when he was a hedge-fund manager. Every morning he would review the fund positions with his team.

In the beginning of the meeting, everyone would share their intermediate view of the world. Meaning, what did Cramer think would happen in the world and how will it impact stocks for the next month or two.

"We're not talking about trading here, though, because that's not what most of you do, and I've said repeatedly that if you are going to trade, you need to be very hands on and treat it like a full-time job," Cramer said.

It was the persistent challenging his team that encouraged Cramer to think differently about these issues, though. He ultimately began to understand that instead of being stuck in the house of pain, Cramer needed to imagine what would go higher because of his worldview.

Thus, Cramer concluded that investors should be buyers of stocks right now that do well in a deflationary environment. Those groups include food, drugs, biotech and extreme growth tech.

Read More Cramer: Fed who? Stocks you need to be buying now

At a time when the world seems to be flooded with companies trying to help customers find a perfect place to stay, such as Airbnb and FlipKey, what should Cramer do with a veteran vacation play such as HomeAway?

The stock has been stuck in a rut for more than a year and can't seem to rally without giving back its gains. But Cramer wonders if all of that is about to change, as the company recently reported a strong quarter and sent the stock soaring 9 percent the next day.

Additionally, back in June, the company announced a partnership with the popular Priceline subsidiary Kayak. So can HomeAway now break away from the competition and continue a sustained rally?

To find out, Cramer spoke with HomeAway's CEO Brian Sharples.

"We live in a mobile world now, and one of the things that we have been working very hard on at HomeAway is a mobile app that you download before you go stay on the property. Houses are complicated…So in this digital age, we can tie all those together and we have been doing it and customers are responding to that in very positive ways," Sharples said.

Cramer saw nothing but mindless, willy-nilly selling on Wednesday, especially when three perfectly good stocks were sold off for no reason. What is so bad out there for investors to fear?

Cramer considers Dow Chemical, RR Donnelley and General Electric to be three solid companies with good stories. He has emphasized them repeatedly on CNBC's "Mad Money."

"Declines like we have seen in these three stocks have become endemic in this market," Cramer said. (Tweet This)

Cramer used these three stocks as examples, but he could have chosen from dozens of stocks. He is concerned with the amount of good companies with good yields that are doing fairly well that are being sold off.

"It is as if the whole cohort of decent stocks with good yields and some economic risk has to be banished from portfolios wherever they might be found," Cramer said.

The only conclusion that Cramer could draw from the selling mindset is that people think that things are not getting better, and that the Fed will foolishly raise rates. That is why these stocks are for sale.

Read More Cramer: 3 stocks being sold by mistake

Back on June 26, a development stage biotech company called Seres Therapeutics came public. The IPO priced at $18 and the stock nearly tripled on its first day of trading, to close at $51.40. A few days later Cramer advised investors that Seres would be very volatile, and sure enough, it was.

Seres is focused on developing drugs to treat diseases caused by dysbiosis, which is a technical term for when trillions of bacteria in your body become imbalanced. When that occurs, patients can become very sick. Seres is all about developing combinations of microbes that will make a bacterial ecosystem healthy again.

So, with a closing price on Wednesday of $40, has it pulled back enough where it is safe for speculation? To find out, Cramer spoke with Seres chairman and CEO Roger Pomerantz.

"We at Seres are developing a whole new class of drugs, as you said. No one has done this before. We are using bacteria as therapy. Not molecules, not atoms, but bacteria. Because of that we are interdicting, we are affecting your micro biome. That is not only important for your health, but it's important for your life," Pomerantz said.

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

Weight Watchers Intl: "No, I have to tell you I think they've be outmoded by connected fitness, which is why I remain a fan of Under Armour. Only buy half now because I do think we are in a tough market."

Maxlinear Inc: "I had David Aldrich from Skyworks Solutions on the show, and you come to me with Maxlinear? It's up a lot, I would ring the register there and go right into Skyworks."

Read MoreLightning Round: Untrendy stock, thanks to Under Armour