The may have closed in the red on Wednesday, but Jim Cramer wasn't sweating it.
It was clear to him that Washington is about to become very business friendly when President-elect Donald Trump announced a slew of pro-business Cabinet selections on Wednesday.
"The result is that the market is anointing a whole new group of stocks while slaughtering others," the "Mad Money" host said.
Cramer explained the selections, and how investors can profit from them.
"Again this is not political commentary — obviously, what is good for business is not always good for the rest of America — but Obama seems to believe business can fend for itself, while Trump wants to embrace business, and that is good news for stocks," Cramer said.
Meanwhile, stocks in the S&P 500 did not soar on Wednesday, despite Trump's pro-growth Cabinet picks. Cramer boiled it down to two reasons.
First, the OPEC deal raised the price of oil dramatically. Short-sellers who bet that the price of oil would fall were left scrambling to cover their short positions and investors bought anything that had to do with oil.
"I would wait for the oil stocks to cool off. They are up too much in one day," Cramer said.
Second, Trump's pro-growth agenda will do great things for companies that need a strong economy to do well, but it doesn't mean much for companies that already have growth, like technology stocks.
"I think there will be bargains in the groups getting crushed because they are selling off too hard, as is almost always the case in this market, which exaggerates every single move in either direction," Cramer said.
Thus, the S&P 500 and Nasdaq had a down day because the industries that directly benefit from Trump's growth agenda don't make up much of either average.
In a few days, though, Cramer expects the news to sort itself out. There just wasn't enough money coming in to make everything rally all at once.
"This is another rotation in a long line of rotations that will run its course before another one begins anew. Not business as usual, but pro-business for certain," Cramer said.