After watching the wave of futures selling over individual stocks on Thursday, it was clear to him that the sum of the parts were worth more than the stock market whole.
"The simple fact is that individual stocks are worth far more than the sum of the ; it is just that a torturous concert masks the strength of the underlying musicians," the "Mad Money" host said.
In the case of the stock market, the concert is the S&P 500, and the musicians are the underlying stocks.
Thursday's market seemed like a discordant symphony driven by both the Fed and oil. Investors seemed confused over oil, which was justified to Cramer. Either higher oil prices could mean that the economy is doing better, or they could hate oil with the knowledge that it could prompt the Fed to raise rates.
Cramer says there is a simple solution.
"If oil stays high enough to make you feel like the global economy worldwide has a pulse, but not so high that the Fed conductor take the podium for multiple rate hikes," he said.
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Higher interest rates could lead to a stronger dollar, which could hurt domestic companies with overseas operations.
And with companies like Amazon and Wal-Mart taking share, that left only a few places for investors to hide. Yet, Cramer remained convinced that the individual sum of the stock market is worth more than the whole.
"Hardly a day goes by when one of the individual players doesn't' prove itself worthy as a soloist, even as it is handicapped by the conductor when it plays en masse," Cramer said.
Cramer pointed to Cisco, Salesforce, Monsanto, Range Resources, Church & Dwight and Dick's as the winners, with the Fed and oil masking the strength of just how powerful stocks could be right now.
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