Deregulation is a large part of President-elect Donald Trump's economic agenda, but many skeptics have asked Jim Cramer how that could really happen.
Trump plans to deregulate through executive appointments, Cramer said. The President and his subordinates have a significant amount of discretion on how laws are enforced.
Oklahoma Attorney General Greg Pruitt was nominated by the president-elect to run the Environmental Protection Agency.
"If he gets approved, he could roll back years of regulations," the "Mad Money" host said.
Additionally, Trump's tweets have turned out to be a buying opportunity for each stock targeted. United Technologies stock went to $108 after Trump highlighted it for moving jobs to Mexico. It now trades at $110. Boeing was at $154 and closed at $158 on Wednesday. Likewise, General Motors proved to be a buying opportunity after gaining 5 percent in a single session.
Cramer was astonished when the price of crude went down on Tuesday, but oil and gas stocks went up.
The decoupling of oil and stocks was a move he hasn't seen in a very long time, and he says could be good news for the stock market, thanks to President-elect Donald Trump.
"Don't let the analysts talk you out of oil stocks or natural gas stocks … This regime wants oil and gas companies to make more money, so I think they will," Cramer said.
Dominion Resources is one of the largest players in the power generation space. The utility sector tends to be the bond market equivalent that investors swap out of as yield for bonds is expected to rise with each rate hike from the Federal Reserve.
However, Cramer highlighted Dominion as a company with many additional businesses that could benefit from a Trump administration. He spoke with the company's chairman and CEO Tom Farrell, who explained that Dominion is different from its peers because of its large gas infrastructure business.
"The gas infrastructure infrastructure will be almost half of the cash flow earnings stream of Dominion Resources, which makes it quite unique," Farrell said.
Given the incredible run that the stock market has had since the election, Cramer thinks it is time to find out if there are any warning signs that the market should be taking more seriously.
The first flag to hit his radar was the Weekly Investors Intelligence survey of bullish and bearish newsletter writers. In its latest report, the number of bulls was at 60.2 percent, with only 18.4 percent bears and 21.4 percent anticipating a correction.
"When everybody's bullish, it means there is no one left to buy. A healthy rally needs plenty of bears who can be persuaded to change their minds," Cramer explained.
To find out if investors are getting complacent, Cramer spoke with Mark Sebastian, a technician and co-founder of OptionPit.com and Cramer's colleague at RealMoney. Sebastian is an expert when it comes to the CBOE Volatility Index (VIX), which measures the level of volatility that traders are expecting in the near future.
However, while the latest Investors Intelligence survey was a red flag to Cramer, Sebastian's read on the VIX indicated that the market is poised to head higher. Based on his analysis, he anticipates that a major reversal will not occur without a largely negative catalyst.
Another powerful theme in the market is the health and wellness trend. Shares of Weight Watchers spiked more than 20 percent on Wednesday after Oprah confirmed she has lost 42.5 pounds on the program.
Likewise, shares of Mindbody rose 7 percent after announcing a new partnership with Google that will allow users to easily book fitness and wellness classes directly through Google search, Google Maps or a new website, Reserve with Google.
Mindbody is the cloud-based provider of business management software tailored to the fitness industry. The company has gone from 1,000 subscribers in 2005 to more than 58,000 in its recent quarter, with 35 percent revenue growth, even as the company is not yet profitable.
Cramer spoke with Mindbody's chairman and CEO Rick Stollmeyer, who explained that small to medium sized businesses (SMB) often have difficulty with scheduling and tracking customers and staff.
"Our system can start with the small, single SMB location and scale effectively infinitely," Stollmeyer said.
In the Lightning Round, Cramer gave his take on a few stocks from callers:
Advanced Micro Devices: "I don't think anyone knows something other than the fact that the company is doing much better than people think. It does have a kind of difficult agreement that may cause some profit taking because it has to share some profit. But I will tell you that AMD is back and I think it can still go higher."
Merck: "Merck I think is a hold. I believe in the work that Ken Frazier [CEO] is doing and I would not sell the stock. Don't forget it also yields 3 percent."