Jim Cramer considered the rally on Wednesday to be a celebration of investors anticipating that the Federal Reserve will do nothing on Thursday—and it could be premature.
"Sometimes when I hear about this endless parlor game of will they raise or won't they, I feel like we have to step back and talk about what we're really about, our core DNA here on 'Mad Money,' which is evaluating companies as potential investments," the "Mad Money" host said.
Cramer wants investors who have saved for retirement and are ready to invest to look for opportunities to buy shares in companies at prices they like.
Thursday could be one of those opportunities.
Yet the "Mad Money" host finds that most investors only see two options with the S&P 500; buy if the Fed does nothing, sell if it raises.
Given the incredible run that the market has had going into the Fed meeting, Cramer thinks it could be possible that the averages get hammered if the Fed takes action. Yet, if it does nothing, the market could continue to rally and investors will regret that they didn't take action and buy high-quality companies when they had the chance.