Industrials were on fire in 2016 until they began to cool a few weeks ago. However, if oil goes back up to $50 and the dollar losses strength, Jim Cramer thinks the love of industrials will be rekindled.
"I'm still a believer in the thesis that the dollar is headed lower, and things could be looking up for the industrial cohort," the "Mad Money" host said.
In many cases, the strength of the group does not pertain to the fundamentals of the companies. The rally was simply pertaining to the theory that going forward, the global economy will get better and the dollar will lose strength.
That is why Cramer sifted through the industrials and found six off-the-radar plays that have recently outperformed tremendously. He called them his "dirty half-dozen" industrials.
The list includes Albemarle Corp, AptarGroup, Carlisle Companies, Parker-Hannifin, RPM International and Rockwell Automation.
"The one trait they each share … is that they are all vital to their customers, and as the environment improves, I bet that spells success for all of 2016."
Often, staying power can be dramatically underrated by traders, even while it is the lifeblood of long-term investors. Cramer says that in order to make money in an uncertain market, it's best to go with companies that have the ability to go the distance in a market that can change in the blink of an eye.
"There is just one problem. On any given day … we don't know who is really stuck in a downward spiral or who is just pausing while gathering strength; who is being overrun by new forces and who can withstand them, or even adapt to them over time," the "Mad Money" host said.
"As much as I like Disney long term, I can't feel the same about Macy's," Cramer said.
Unfortunately, Macy's did not fall into the same category as Disney. When he looked into the future, he found that there pretty much isn't anything sold at Macy's that he couldn't find on Amazon, often for less money.
It wasn't very long ago that Cramer remembers that investors wouldn't dare touch a company that carried Disney merchandise. They thought the business would be too episodic and not lucrative.
Instead, they bought the stock of Disney because of its consistent revenue stream from cable, specifically ESPN.
Everything changed on Wednesday.
Video game company Electronic Arts skyrocketed more than 13 percent, in large because of its partnership with Disney and a successful "Star Wars" game.
"Here is the irony, though: we tend to forget the releases that Electronic Arts is depending on are from Disney, and Disney will be the chief beneficiary," the "Mad Money" host said.
Another under-the-radar stock Cramer highlighted was Shutterstock, the online marketplace for high quality photos, videos, illustrations and music. In an increasingly digital world, Shutterstock makes it easy to create the imagery many companies are looking for.
The stock lost almost half its value last year among the growth sell-off. However, the Shutterstock has been on the rebound, bouncing back 25 percent for the year.
The company's chairman and CEO commented on the rapid growth of the company, stating "We have 1.5 million customers. They are businesses of all sizes that use our images to sell their products and services. That equates to selling five images every single second."
One stock that delivered an outstanding quarter was International Flavors & Fragrances, ticker IFF. It is one of the leading suppliers of flavors and fragrances for food, beverage, personal care and household products.
"I like the describe IFF as a stealth technology company. It may seem frivolous, but what these guys do is all about science," Cramer said.
IFF invents proprietary compounds with a specific taste or scent, and then licenses the compound out to the food, beverage and consumer packaged goods industry. After the quarter it delivered, it was clear to Cramer that if the dollar continues to weaken, IFF will gain a strong tailwind that could push the stock higher.
Cramer spoke with IFF CEO Andreas Fibig on the broad range of the company's products.
"I would say we are in the business of art and science. That describes us very, very well. Many of our perfumes create all of these wonderful fragrances and all the wonderful tastes that you can basically taste in every ice cream or beverage you drink," Fibig said.
In the Lightning Round, Cramer gave his take on a few caller favorite stocks:
Seagate Technology: "Maybe a classic value trap. I have now started to worry about the dividend coverage even though it's a well-run company. They have not diversified away from the P.C. and we know what's going on with the P.C."
AbbVie: "Oh man they are good. I'm going to give you a two-for, I like both Abbott and AbbVie, they are really well-run companies. A lot of valuation created there."