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Cramer Remix: This group's about to be hammered

Everywhere Jim Cramer looked on Wednesday he saw the same theme resonate throughout the market — guilty until proven innocent.

"The presumption at the moment is that if a company is at all suspect, its stock is either guilty or will be found guilty by association," the "Mad Money" host said. (Tweet This)

That means Cramer expects more selling in drugs, entertainment, oil and restaurant stocks. If you're a trader, then it's time to join the fray.

But for investors, Cramer had a stern warning when he said, "Don't play the uptrend that's running higher. Play the downtrend that's running out of steam."

He recommended waiting three to five more days for the punishment to play out, and then buy the stocks that have been crushed. At that point, the best-of-breed stocks may need a few more days of recidivism before bottoming but will prove to be strong stocks for any portfolio.

Read More Cramer: Don't you dare play the uptrend

Whole Foods Market was hit hard in after-hours trading on Wednesday after reporting a lackluster third quarter. Jim Cramer was left wondering how this company plans to fend off the competition and turn things around.

The company delivered per share earnings of 30 cents for third quarter, excluding a couple of one-time items, when Wall Street was looking for more than 34-cents. It also had weaker-than-expected revenues and negative same-store sales growth. Additionally, management's guidance for 2016 was below what analysts were expecting.

To find out more about the initiatives that Whole Foods has in store to turn things around, Cramer spoke with co-CEO Walter Robb.

"It was a tough quarter, and we own it … But any way you slice it, they are not what we want. They are not what we expect, and we outlined today the steps we are going to take moving forward," Robb said. (Tweet This)

Read More Whole Foods co-CEO: Was a tough quarter, we own it

Washington gave investors a big gift to investors on Wednesday, and in a few days when the heat blows over, Cramer wants them to take it.

Allergan is the pharmaceutical roll-up formerly known as Actavis, which is currently in talks to be taken over by Pfizer. It reported a strong quarter on Wednesday, with a 30-cent earnings beat from a $3.18 basis and higher than expected revenue that rose 90 percent year-over-year.

However instead of rallying, the stock closed the day in the red. This was because Democrats in the House of Representatives announced a newly formed Affordable Drug Price Tasking Force to fight the rise in drug prices. It sent many drug stocks spiraling, even though Allergan is nothing like Valeant.

That is why Cramer spoke with Allergan CEO Brent Saunders, who said that he believes pharmaceutical companies have a social contract in America to invest money in research and development, raise drug prices in a responsible manner and grow the business for shareholders.

"I believe all those things can live in harmony and in the vast majority of the pharmaceutical industry they actually do," Saunders said.

Traders work on the floor of the New York Stock Exchange.
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Traders work on the floor of the New York Stock Exchange.
"It's pretty amazing that this one index could have that kind of power, but to deny its reach seems dead wrong" -Jim Cramer

When Cramer took a look at the charts for many industrial and oil companies, he noticed something that they all had in common. All of these stocks were in an intense bear market until the last week of August and have all rallied furiously since then.

What the heck happened the last week of August?

"Simple. The Chinese stock market, which had been in free-fall since June — dropping from the 5,100 level to just below 3,000 — finally stopped going down," the "Mad Money" host said.

Since the bottom in the Shanghai stock exchange on Aug. 26, the Chinese market has rallied hard. It is up more than 15 percent and has taken U.S. industrial and oil stocks with it.

"The systematic risk from either China or Glencore has diminished. It's pretty amazing that this one index could have that kind of power, but to deny its reach seems dead wrong," Cramer said. (Tweet This)

Read More Cramer: Behind the miraculous pivot in industrials

Another group that has made quite a comeback are the cruise line stocks. After a rough start to the year Royal Caribbean, the No. 2 largest player in the space, has led the way up 45 percent from its lows in the spring.

Cramer thinks that some of the strength is correlated to the low cost of fuel, which could mean these companies are saving a boat load on the bottom line.

Royal Caribbean reported an incredible quarter a week-and-a-half ago and proved that cheap fuel wasn't the only thing bolstering the stock. Its net yield — an important key metric in the industry that measures how much money the company makes from its passengers — increased by 5.1 percent on a constant currency basis.

Additionally, the company raised its full year earnings guidance and announced a $500 million buyback, prompting the stock to shoot up 3 percent on the news. To find out more about what the future could hold for Royal Caribbean, Cramer spoke with Chairman and CEO Richard Fain.

"I think that the change is two things. First of all, we have offered so much more…The other thing that has happened is that people have begun to realize all that we offer. You can go new places and you don't have to pack and unpack. So, we have had an explosion in the attractiveness," Fain said.

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

Rite Aid: "I want to own Rite Aid. I'm not going to tell you to buy it right here because I've been telling people to buy it for a very long time. But I do think that some deal gets done. If not by Walgreen than by somebody else."

AbbVie Inc: "There was some Gilead news today that's not as good for its Hep C drug, which means that AbbVie is going to go up. AbbVie reported a great quarter."

Read More Lightning Round: The best stock nobody talks about