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NEW YORK (TheStreet) -- Everything the market hated yesterday it loved today, Jim Cramer told his Mad Money viewers Thursday as the market changed on a dime, reversing most of Wednesday's trends.

Today, growth is once again in fashion, as the successful IPO of the Chinese-based (JD) - Get Report proved. Once JD's shares hit the tape, all of the growth names began to rally because Wall Street forgot why it hated them just a day ago.

That was evident with (CRM) - Get Report, Cramer continued. The company posted a strong quarter on Tuesday and saw its shares fall on Wednesday from $53 to $50 a share, despite much analyst praise. Today, Salesforce rallied 6%, sending its shares right back to $53 a share.

Today's strength in Salesforce sent other high-growth stocks higher. Stocks like Workday (WDAY) - Get Report and Splunk (SPLK) - Get Report came along for the ride, as did traditional growth names like Chipotle Mexican Grill (CMG) - Get Report.

The Wall Street fashion show used to have seasons, Cramer concluded, but lately those seasons have been reduced to just days. While investors may never be able to time the day-to-day mood of the markets, Cramer said longer-term investing still works and is why he still comes on TV every evening.

Executive Decision: Dan Welch

For his "Executive Decision" segment, Cramer spoke with Dan Welch, chairman, president and CEO of InterMune (ITMN) , the orphan drug maker whose shares have rallied 168% year to date on the prospects of FDA approval for its drug Pirfenidone, which treats terminal lung disease.

Welch said the data surrounding Pirfenidone has been very compelling and the opinion leaders in their fields have been very excited for the drug to come to the U.S. Pirfenidone is currently available in Europe and has been seeing great success, with fewer deaths after a year of treatment.

Welch said that after a long 10-year journey, he's very hopeful Pirfenidone will be available in the U.S. for the first quarter of 2015. He said InterMune has already begun studies on using Pirfenidone for other indications and so far that research is also going very well.

With the stock's remarkable run, Cramer said the market has spoken loudly that it feels Pirfenidone will be a blockbuster. He said investors need to do their homework and have conviction to own a biotech like InterMune in a market that has become extremely fickle.

The Wrong Sporting Trade

Don't take your cues from the wrong companies, Cramer reminded viewers. Case in point: Dick's Sporting Goods (DKS) - Get Report, which saw its shares decline by 18% after the company posted miserable results, with same-store sales rising just 1.5% when analysts were expecting 3% to 4%.

Cramer said the miserable results from Dick's took down all the sporting goods stocks, including Cabela's (CAB) , down 5%, and Sportsman's Warehouse (SPWH) - Get Report, down a whopping 16%.

But the problem is not with sporting goods, Cramer told viewers, it's with Dick's and some hig- profile mistakes its management has been making. First, the company doubled down on golf, opening a whole chain dedicated to the sport. Second, the company opted to stop selling some popular high-power sporting rifles last year. Cramer said that decision may make for good public policy but it has been very bad for business.

Yet, both Cabela's and Sportsman's Warehouse don't suffer from either of these issues, Cramer said, and thus don't deserve the slamming they received. Cabela's reaffirmed its guidance when it reported a month ago, and Sportsman's remains an attractive regional to national growth story.

Cramer said he'd pickup either of these two names as they've both gotten very inexpensive.

Executive Decision: Dr. Phil Frost

In his second "Executive Decision" segment, Cramer sat down with Dr. Phil Frost, chairman and CEO of Opko Health (OPK) - Get Report, the diagnostics and drug company that's seen a 70% gain in its shares since Cramer first got behind the stock in October 2011.

Dr. Frost once again touted his company's 4Kscore product, which is a confirmation test for prostate cancer that could eliminate 40% to 50% of all biopsies performed in the U.S., saving the health care system millions of dollars and patients the inconvenience of undergoing the procedure

Dr. Frost also talked about Opko's Claros-1 test card, which eliminates the need to ship a patient's blood off to a lab for testing, and instead provides results in just 10 minutes with just a single drop of blood.

When asked about his company's progression on these new tests and treatments, Frost said that Opko is still moving according to plan. The company has also just completed an acquisition of a new inhaler for asthma and COPD that provides many benefits over existing options.

Cramer said he's made a lot of money with Dr. Frost and he's sticking with him.

Lightning Round

In the Lightning Round, Cramer was bullish on VipShop (VIPS) - Get Report, (BIDU) - Get Report, HCA Holdings (HCA) - Get Report, Randgold Resources (GOLD) - Get Report, SPDR Gold Shares (GLD) - Get Report, Royal Bank (RBS) - Get Report, Valero Energy (VLO) - Get Report, Marathon Oil (MRO) - Get Report and HollyFrontier (HFC) - Get Report.

Cramer was bearish on China XD Plastics (CXDC) - Get Report, Kinross Gold (KGC) - Get Report, Jabil Circuit (JBL) - Get Report and The Bank of Ireland (IRE) .

No Huddle Offense

In his "No Huddle Offense" segment, Cramer said investors shouldn't be walking away from Yahoo! (YHOO) just yet as the IPO has proven Yahoo's stake in Alibaba is likely worth even more than expected.

In the end, Cramer said he's a balance sheet guy, and Yahoo! should have over $9 billion on its books after the Alibaba IPO -- money it should use to buy Yelp (YELP) - Get Report, OpenTable (OPEN) and GrubHub (GRUB) - Get Report, to put all three of these services under one mega-dining experience.

Cramer said Yahoo! would get instant growth and relevance from such a bold move. As it happens, the value of these three stocks is just what the company is likely to receive from the Alibaba stake that it plans to sell.

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

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-- Written by Scott Rutt in Washington, D.C.

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