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The name of the game is leapfrog, Jim Cramer told his Mad Money viewers Thursday, as company after company sees their shares get revalued to the upside. We're in the right place at the right time, Cramer said, because the stock market with Donald Trump in the White House seems like the only game in town.

Take the airlines: Just last week we saw positive news from Southwest Airlines (LUV) - Get Report   boost the company's stock from 13 times earnings to 14 times earnings. Then earlier this week, it was United Continental (UAL) - Get Report with better-than-expected news that sent its shares higher. Not to be outdone, Delta Air Lines (DAL) - Get Report today leaped over United with positive results of its own.

The same pattern can been seen in the semiconductor space, Cramer added, with leadership from Nvidia (NVDA) - Get Report providing an umbrella that is lifting a host of other chip makers.

Trump's trifecta of lower taxes, less regulation and repatriation of overseas funds is helping this pattern play out all over the market. That's why Cramer said investors should just own the stocks of great companies that are undervalued, let them head higher, then take profits and move onto the next undervalued name. If your stock is not heading higher today, there's a good chance it'll be on the rise soon as it plays catch-up to its peers.

Executive Decision: Western Digital

For his "Executive Decision" segment, Cramer spoke with Steve Milligan, CEO of Western Digital (WDC) - Get Report , the semiconductor maker with shares that are up 13% for the year, but still trades at just eight times earnings.

Milligan said there are two factors driving Western Digital. The first is the dramatic growth of data creation and the second is the transformation of how data are being stored. That's why Western Digital's acquisition of Sandisk, which closed in May, was so important: It provided Western Digital with more great technology to meet customer needs.

Milligan did caution that while PC sales have stabilized, they are still likely to decline in the future.

When asked about the incoming administration, Milligan said that Trump's trade war rhetoric could be a risk factor for all of technology, but he remains hopeful the business-oriented president-elect will consider all sides in his negotiations with China.

Find out why Cramer and Jack Mohr are bolstering their position in Newell Brands (NWL) - Get Report ; get a free subscription to Action Alerts PLUS.

Not That FANG, the Other FANG

Beware of the FANG that could bite you, Cramer warned viewers, speaking of Diamondback Energy (FANG) - Get Report .

Cramer said that while Diamondback's secondary offering of 10.5 million shares at $97 a share was well received by the market and closed up $4, the oil market is beginning to become circumspect.

Cramer noted that despite OPEC's promise to curb production, the two- and five-year oil futures barely budged, signaling that investors aren't betting the cuts will stick. He also cited the U.S. rig count, which had fallen from 664 to just 404 is now back to 624 active rigs, a sign that U.S. producers are ramping up to fill the gap.

Finally, Cramer said, with Trump favoring fossil fuels, it's easy to see a scenario where the U.S. keeps a lid on oil prices in the future.

Coming up on tonight's episode: Cramer interviews Jonathan Ayers, CEO of IDEXX (IDXX) - Get Report . Plus, don't miss the Lightning Round: Which stocks is Cramer bullish on?

Executive Decision: IDEXX Laboratories

In his second "Executive Decision" segment, Cramer again spoke with Jonathan Ayers, chairman and CEO of IDEXX Laboratories (IDXX) - Get Report , the pet health company that's cashing in on the so-called humanization of pets. Shares of IDEXX are up 65% for the year.

Ayers said that every generation is more attached to their pets than the one before it and that's why nearly 50% of all pet owners will be buying gifts for their pets this Christmas. The humanization of pets is a long-term trend, he said, and the millennial generation is spending even more on their animal companions.

Turning to politics, Ayers added that with two-thirds of their sales stemming from the U.S., any tax reform would be a big win for IDEXX.

IDEXX is more than just pets, Ayers said, as his company is also the leader in livestock health diagnostic products as well. That's why Cramer said the company is one of the best secular growth stories around.

Lightning Round

In the Lightning Round, Cramer was bullish on CBS Corp (CBS) - Get Report , Bristol-Myers Squibb (BMY) - Get Report , Bob Evans Farms (BOBE) , ABM Industries (ABM) - Get Report , Finisar (FNSR) - Get Report , Hawaiian Holdings (HA) - Get Report and Alaska Air Group (ALK) - Get Report .

Cramer was bearish on Viacom (VIAB) - Get Report , Nokia (NOK) - Get Report , United Rentals (URI) - Get Report and Momo (MOMO) - Get Report .

Am I Diversified?

In the "Am I Diversified" segment, Cramer spoke with callers and responded to tweets sent via Twitter to @JimCramer to see if investors' portfolios have what it takes for today's markets. The first portfolio included Paychex (PAYX) - Get Report , CVS Health (CVS) - Get Report , Kraft Heinz( HKZ) , Procter & Gamble (PG) - Get Report and Verizon (VZ) - Get Report .

Cramer said he's fine with this portfolio, which has growth and yield.

The second portfolio's top holdings included Key Corp (KEY) - Get Report , Valero Energy Partners (VLP) , JetBlue (JBLU) - Get Report , Hanes Brands (HBI) - Get Report and Corning (GLW) - Get Report .

Cramer called this portfolio "perfection."

The third portfolio had Delta Air Lines (DAL) - Get Report , Visa( VS) , Citigroup (C) - Get Report , Foot Locker (FL) - Get Report and Dow Chemical (DOW) - Get Report as its top five stocks.

Cramer said Visa and Citi do not trade together, which means this portfolio is also properly diversified.

GE (GE) - Get Report and Arconic (ARNC) - Get Report offer positive deep dives: Read what Cramer and Mohr are telling the members of their investment club about these stocks with a free subscription to Action Alerts PLUS.

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At the time of publication, Cramer's Action Alerts PLUS had positions in NWL, GE, ARNC, C and DOW.