Mad Money

Cramer: A colossus that will generate fortunes

Cramer's silver lining for this volatile market

Right now there are so many amazing things happening in the market, Jim Cramer's mind is blown. Yet, all of these individual events are going unnoticed because there are larger themes overshadowing them.

"These are individual events that seem one off, but they serve to remind you that good things can happen to stocks regardless of how the averages—good or bad—fare on a given day," the "Mad Money" host said.

One example was Wednesday morning's stunning deal where Ace, a very acquisitive insurance company, gobbled up Chubb. Cramer loves this $28 billion cash-and-stock deal, as he considers Chubb to be one of the premier insurance brands out there.

Normally, Cramer would expect the acquirer, Ace, to be down in the market. However, instead it skyrocketed $4 and stayed up for most of the day because not only is it taking over the Chubb name, but Chubb now gets to change its domicile to Switzerland, with the Ace headquarters.

"Congratulations to Mr. Greenberg for creating an insurance colossus that I think could make fortunes for its shareholders for years to come. It's a buy," Cramer said.

Philippe Lopez | AFP | Getty Images

Next up, Cramer learned that the terrible casino numbers in Macau could finally be bottoming. The Macau casino stocks have been absolutely horrible lately, but now Cramer sees they are on the move again and he suspects that they could soar. Cramer is watching Wynn for a bottom.

Or how about Constellation Brands? When Bud merged with InBev, the Justice Department forced the sale of Modelo and Corona to Constellation, and the quarter reported by Constellation on Wednesday is proof of that deal's brilliance.

While the stock did lose some of its gains during the day, to Cramer this only signaled that as a gift to buy the stock on weakness.

Then there was Fitbit, which many claimed was totally overvalued because they think the product is a fad. But Cramer likes the ecosystem, and it's got the fastest growth of any accessory company he follows. So, while he is not willing to chase the stock at these levels, he is ready to snap it up when it comes down.

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Finally, there was a big break for housing on Wednesday when Stanley Black & Decker hit an all-time high when a research note suggested that power tools could be up double digits this quarter. Cramer anticipates that housing will be the top story of the second half, besides biotechs.

More than ever now, companies are taking control of their own destinies. It's just a matter of being able to see these opportunities amid the macro backdrop.

"If you focus only on the broader market forest, you'll certainly miss some really fine trees, the kind that money actually grows on," Cramer said.

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