Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.

NEW YORK (TheStreet) -- The perfect recipe for a rejuvenated stock market may be illusive but it is possible, Jim Cramer told his Mad Money viewers Thursday, after the markets opened lower, but ended the day in the green.

There were five things, five ingredients, in today's rally recipe. The first was a $2 decline in oil. After rallying in a straight line from its lowers bear $43 a barrel to its highs of $62, today's decline in oil was a welcomed one, as the stocks of everything from restaurants to retail to airlines have been in sharp decline ever since oil began its rise.

The second ingredient was a weaker dollar. As long as the dollar is on the move, the big international stock won't be, so today's pause was welcomed news.

The next ingredient needed for a rally is a wall of pessimism, which gives smart investors a chance to buy when others are panicking. Today's weak open provided that in spades today.

Fourth, there's interest rates, which actually fell a little today. That, in turn, changed the landscape for rate watchers, as least in the short term.

Finally, there were some positive earnings. While stocks like Whole Foods Market (WFM) and Keurig Green Mountain (GMCR) made headlines for their horrible results, there was alsoTesla Motors (TSLA) - Get Report, up 2.7%, Alibaba (BABA) - Get Report, up 7.5%, and semiconductor maker Qorvo (QRVO) - Get Report, finishing the day up 9%.

Mix all of these ingredients into the pot, let it simmer and the result is a delicious close for the stock market.

Executive Decision: Cliff Hudson

For his "Executive Decision" segment, Cramer spoke with Cliff Hudson, chairman and CEO of Sonic (SONC) , the burger chain with 3,500 locations and a stock that's risen 37% in the 10 months since Cramer last checked in with the company.

Hudson said despite the recent decline in Sonic's share price the company continues to be on a roll with its food, service and marketing efforts all performing very well.

Hudson explained that Sonic serves all five parts of the day, from breakfast to late-night snacks. The company has different products for each segment, markets them separately and often sees different customers in each, all of which leads to the strength of the business.

When asked about the company's share buyback, Hudson confirmed the buyback is still in place and the company will continue to use its ample cash flow to buy back more stock throughout 2015 and 2016.

Cramer told viewers to forget the short-term gyrations of oil prices and buy Sonic for the long term.

Making Mad Money With PPG

With the markets largely in decline the past two weeks, should investors run for cover or look for opportunities to buy, buy, buy? That's the question Cramer posited to his viewers and his answer was to most certainly find the opportunities to make mad money.

There are many reasons why U.S. stocks have been faltering. Some feel its inflation fears, while others point to oil or the strong dollar. But Cramer had an even simpler reason, Europe is getting better.

That notion has big implications for stocks like PPG (PPG) - Get Report, whose CEO Cramer interviewed Wednesday. PPG's stock has been in decline ever since it posted just 1% sales growth, as the company derives nearly a third of its revenue from Europe.

All the negatives are already priced into PPG but none of the positives. As Europe gets stronger, its auto sales will increase, as will its currency. That will only lead to a sharp rebound in PPG, Cramer noted, which is why he still thinks this stock is a huge diamond in the rough that investors should snap up.

Executive Decision: Tim Taft

Continuing with his restaurant theme, Cramer also checked back in with Tim Taft, president and CEO of Fiesta Restaurant Group (FRGI) - Get Report, a stock that's off 26% from its peak earlier this year.

Taft said there have been some momentary issues at some of its locations in Florida, but overall Fiesta continues to execute on its plans, posting better sales quarter after quarter.

When asked about the company's third concept, Cabana Grill, Taft explained the chain, which currently has just two locations, continues to be a test for the company. He said the Grill offers innovative food and a lower cost of entry than its two other concepts and Fiesta is learning a lot from the experience.

Taft said Fiesta is not worried about rising chicken prices because the company's costs are locked in for the rest of 2015.

Cramer remains bullish on Fiesta Restaurant Group.

Lightning Round

In the Lightning Round, Cramer was bullish on Energy Transfer Partners (ETP) , Kinder Morgan (KMI) - Get Report, Horizon Pharmaceuticals (HZNP) - Get Report, WCI Communities (WCIC) and Lennar (LEN) - Get Report.

Cramer was bearish on Oneok (OKE) - Get Report, Carbo Ceramics (CRR) - Get Report and Transocean (RIG) - Get Report.

Off the Charts

In the "Off The Charts" segment, Cramer went head to head with colleague Bob Lang over the charts of the chemical stocks.

Looking at a monthly chart of DuPont (DD) - Get Report, Lang noted that this stock has been on a tear since 2009 and that trend remains in tact. After pulling back in March, the stock held above its 200-day moving average and the RSI momentum indicator is breaking out to the upside.

Dow Chemical (DOW) - Get Report follows a similar pattern, Lang noted, with the stock making higher highs and higher lows with a strong MACD and a cup-and-handle pattern to boot.

Another chemical stock, LyondellBasell (LYB) - Get Report, has perhaps the best chart of them all, displaying a rare golden cross in its MACD momentum indicator.

Finally, there's Cramer fave, PPG. This stock is trading in a wedge pattern, which is not overly bullish, but is also displaying a "W" pattern, which is, leading Lang to predict this stock could break out of its wedge soon.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here.

At the time of publication, Cramer's Action Alerts PLUS had a position in DOW and KMI.