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 S&P 500; 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.
Another story that hit the news was the scandal surrounding golfer Phil Mickelson, who gave up $931,738 in profits and $105,291 in interest he made off a tip from the former chairman of Dean Foods to buy Dairy King's stock before the news was announced that it had spun off WhiteWave.
"The irony is, he made nothing. If he had just held on to both Dean Foods and WhiteWave, he would have had a 259 percent gain, versus a 45 percent move in the S&P 500 over the same period," Cramer said. "I don't know about criminal trading — he neither admitted nor denied any wrongdoing — but honest investing would have made him a killing."