From a high level, one could think that the averages are finally at a stable level. However, Jim Cramer suspects that there could be more to the market than meets the eye and wants investors to be prepared when job report numbers are released on Friday.
That is why he opened the market's hood to take a closer look, and his resulting discovery could impact your portfolio.
There is a gigantic rotation of stocks happening right now. Cramer sees that the market leaders have decided to take a breather on the sidelines, while the idle bench warmers have decided to jump in the game and make some money.
"My goal here isn't to tell you go buy the cyclicals or sell the staples. My goal is to show you what's under the hood, and how the averages look like they're doing nothing, but underneath we have a rotation going on of immense proportions," the "Mad Money" host said.
Read MoreCramer's discovery under the market's hood
One stock that left Cramer baffled was PVH Corp. After the market close on Wednesday, PVH released earnings. This is the apparel company with a portfolio of brands that include Calvin Klein, Kenneth Cole, Tommy Hilfiger and more. The company reported an 8 cent earnings beat off of a $2.48 basis and substantially better than expected gross margins.
While the North American business was solid, the European business lagged, with both Tommy Hilfiger and Calvin Klein down.
How concerned should investors be about this company and the retail group as a whole? Cramer sat down with PVH Corp CEOEmanuel Chirico to get the scoop.
"We were very happy with the way the third quarter ended, and now we are getting into the fourth quarter and business is running as planned. We are feeling really good about it. We took down our guidance and that is 100 percent related to foreign currency," Chirico said.
Another question on Cramer's mind is how to make money from marijuana. GW Pharmaceuticals is a speculative drug company that has a history of volatile trading. However, Cramer wouldn't be surprised if the more than 10 percent jump in the stock on Wednesday is just the start of this stock being... high.
To find out where this stock could be headed, the "Mad Money" host sat down with Justin Gover, the CEO of GW Pharmaceuticals.
Cramer considers GW Pharma to be the one really legitimate play on medicinal marijuana, as it uses marijuana to develop real medicine. Additionally, it is a British company that doesn't need to worry about the U.S. laws that make owning large quantities of pot a felony.
"The situation with respect to the legal system is no different in the U.K. It's just that all the work that we do, whether it is in Europe or in the U.S. comes under federal law. We are allowed to do legitimate scientific research into these kind of substances. That is what we have been doing for the last 16 years," Gover said.
Read MoreCramer: Let's make money on marijuana
Another topic on everyone's mind, and the burning question is where the bottom of oil could be, and when will we have a tradeable bottom for it to rebound?
To answer this question Cramer turned to the charts and consulted Carolyn Boroden, a technician who runs the FibonacciQueen website and is Cramer's colleague at RealMoney.com.
Based on Boroden's analysis, she spotted that the Fibonacci relationships tended to cluster around $64. That is roughly the price where oil bottomed on Friday, giving her a case to believe that this could also be where oil bottoms in the future as well.
Boroden said she would feel bullish if oil's five-day exponential moving average crosses above the 13-day exponential moving average on the daily chart, or if we get a rally that lasts longer than previous rallies during a period of decline. She also added that in order for her to think that oil really has legs; the oil futures would need to break out over $69.80. Until then, she is staying cautious.
Read MoreCramer checks charts for oil bottom
For those investors who are ready to make a big speculative play based on the words of T. Boone Pickens on Tuesday, Cramer is advising to pull back the reins.
Yes, Pickens did identify potential targets for big players like Exxon-Mobil to create production growth. He also suggested for the major oil players to make bids for companies like Pioneer and EOG.
"However, I want to emphasize that in no way would I put a full position on for any of these," the "Mad Money" host warned.
According to Cramer's sources at RBN, they advised that while permits have been cut back for drilling, there are plans in place that signal that overproduction will continue and that down cycles tend to last longer than the one we are having.
Thus, the idea that happy days are back again and that oil companies can be bought based on commends that Pickens made on "Mad Money" go against all of the research that indicates that the bottom is not yet here for oil.
In the lightning round, Cramer also gave his take on stocks that could be headed higher when he responded to a few caller favorites:
Google: "Google class A shares are absolutely horrible ... We actually shed tears that Google isn't doing anything. But anyone taking a 2015 perspective knows that I do not want to lose it and I want to buy Google."
SolarCity: "I think Solarcity is a very interesting situation, because I believe there are 50 million roofs in this country that could be susceptible to having a solar panel and that would be great for Solarcity. That said, this is speculative. Netflix, Tesla, Amazon, Solarcity are four stocks that are not bound by the four walls of the spreadsheet, and you are on your own if you do buy them."