The Dow fell 173 points on Wednesday just 24 hours after a surprising 196-point rally, leaving investors to ask the question, who’s right – the bulls or bears? Was today a brief pullback in a larger rally? Or was yesterday a brief rally in much larger correction? Cramer’s view: It doesn’t matter as long as you’re making money.

Remember the dire news that awaited investors when Tuesday morning’s alarm went off: Private-equity valuations were collapsing; middle-class Americans were losing their jobs and their homes; hyperinflation was on the verge of destroying U.S. equities and the country’s purchasing power; General Motors bondholders were being elbowed out of the money they were due; and to top it off, North Korea had tested a nuclear device. Still, the market soared anyway.

Whatever positives there were on Tuesday – a strong manufacturing report from the Richmond Federal Reserve, or another good note from the Dallas Fed and a better-than-expected consumer confidence number – they were far outweighed by the negatives. So the 196-point move was “intellectually dishonest,” as Cramer called it. Stocks shouldn’t have seen such big gains.

But who cares if a rally is justified? Who cares if it will last for the long term? Investors, in this case the bears, can point to today’s losses and demand that we admit they were right about the market, but that doesn’t earn them any returns. 

“You just have to be flexible,” Cramer said, “willing to go with the flow of an irrational market.”

He urged viewers to use dips, like the one we saw today, to buy stocks at a discount.

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