Now that panic generated by higher rates in the market has started to ebb, at least a little bit, Cramer thinks it's a good time to think about which stocks may actually benefit from those higher rates.
And the Mad Money host believes that the immediate beneficiary may be the regional banks. "I've told you before that this group could be poised for a major rally," Cramer said.
As a fundamental investor Cramer always looks at the changes in dynamics that could improve the business environment. And higher rates could really drive the bottom line for banks.
That's because the spread or net interest margin between what banks are paying depositors on CDs versus what they're making in the bond market is growing incrementally larger.
"It's especially the case with the five-year Treasury, where banks are now making almost double the money on that note than what they're paying you for five year CDs," Cramer said.
Although the thesis seems logical, before putting money to work, Cramer always likes to consult the charts to see if they confirm the thesis. For insights on regional banks Cramer turned to technical analysis from Bob Lang, the founder and senior strategist at Explosive Options.net.