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If you only see the forest, you'll never see the trees, Jim Cramer told his Mad Money viewers Wednesday, after another polarizing day on Wall Street. Cramer said even he can't figure out which way the market might head next, but he's certain that both extremes are dead wrong.

When meeting with a group of Action Alerts PLUS members recently, Cramer said he was peppered with questions and concerns about the Federal Reserve taking away liquidity and the likelihood of a Trump impeachment -- all extreme bear cases that Cramer said he quickly dismissed and assured club members weren't likely to happen.

But then there's Robert Schiller, American Nobel Laureate, economist, academic, and one of the most bearish people out there. He said today that he sees the markets heading 50% higher. Schiller argued that stocks today are nothing like they were in 2008 and the Republicans will eventually get tax cuts passed.

So who's right? When Lowes (LOW) reported weak numbers, sending shares lower by 3%, the bears piled onto the stock, declaring the sector the latest to fall under the wheels of (AMZN) . But rival Home Depot (HD) saw strong and accelerating sales. Cramer said this pessimistic bear thinking is how you miss great individual stories, like Home Depot.

Meanwhile, over on Real Money, Cramer talks more about the surprising opinions he's heard at both ends of the spectrum. Get his insights a free trial subscription to Real Money.

Executive Decision: PVH

For his "Executive Decision" segment, Cramer again sat down with Manny Chirico, chairman and CEO of PVH Corp (PVH) , the apparel maker that just posted a five-cents-a-share earnings beat on strong revenues and rising gross margins.

Chirico said that both Europe and China saw exceptionally strong sales this quarter and really surprised to the upside. He said the order books are full and everyone can't get enough of Tommy Hilfiger and Calvin Klein.

Meanwhile, here in the U.S., the retail industry continues to see a "seismic shift" in distribution channels, Chirico said, and there are just too many stores. He was encouraged, though, by the store closings already announced by the big chains -- a move in the right direction.

Chirico also noted that this year's late Easter holiday seemed to take retailers and investors by surprise, but those kinks have not worked themselves out. The key to the U.S. market, he said, is to manage inventory and expenses very tightly.

Cramer continued to be bullish on PVH.

Key Stocks to Watch

What are the key stocks to watch in this market? Cramer recalled the times when he was on the road, cold calling for Goldman Sachs (GS) . Back then, before cell phones, you needed a pocket full of quarters to call the home office to get a read on the market. And since time was limited, you could only ask for a handful of the latest quotes before getting hung up on.

So if Cramer were calling home today, which stocks would he ask about? First would be JPMorgan Chase (JPM) , as the financials represent 20% of the economy and JP Morgan is the most levered to interest rates and any reduction in compliance regulations.

Next, Cramer said he would ask about Caterpillar (CAT) , a proxy for how the rest of the world is doing. Since Cat sells a lot overseas, this one stock can give you a read on everything from Chinese infrastructure to coal mining, all in a single quote.

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Executive Decision: Take-Two Interactive 

In his second "Executive Decision" segment, Cramer spoke with Strauss Zelnick, chairman and CEO of Take-Two Interactive (TTWO) , the gaming stock that plunged 10% Monday after the company reported a delay in the release of an upcoming title -- the long-awaited sequel "Red Dead Redemption 2," only to jump 5.5% Tuesday on strong earnings and another 6.7% Wednesday. Shares of Take-Two are now up 58% for the year.

Zelnick said that Take-Two has transitioned after from a hit-driven business to one that has sustained engagement with its users and can monetize that engagement. His company also has substantially higher gross margins than ever before.

Delaying a game release is a tough decision, Zelnick said, but quality must come first and this isn't the first time that his company has decided to wait.

Zelnick was most excited about Take-Two's joint venture with the NBA to create an international eSports league, the first competitive gaming league for a pro sports franchise. There are currently 17 NBA teams participating and an estimated 80 million eSports fans around the globe.

On a call with his AAP investment club members, Cramer said a Trump impeachment wouldn't kill stocks. Get in on the conversation, hear his insights and get a free trial subscription to Action Alerts PLUS.

Lightning Round

In the Lightning Round, Cramer was bullish on Foot Locker (FL) , Cara Therapeutics (CARA) , National Grid (NGG) , Expedia (EXPE) and FedEx (FDX) .

Cramer was bearish on Teva Pharmaceuticals (TEVA) , TripAdvisor (TRIP) , Lumber Liquidators (LL) and CH Robinson Worldwide (CHRW) .

Executive Decision: GrubHub

For his final "Executive Decision" segment, Cramer sat down with Matt Maloney, CEO of GrubHubundefined , the online ordering and food delivery service that offers cuisine from 50,000 restaurants in 1,100 cities. Shares of GrubHub are up 14% so far in 2017.

Maloney said that the GrubHub model is really coming together and his company now has the right restaurants, in the right markets and is keeping their customers happy. That's why GrubHub's delivery services are exploding and the company is seeing twice the growth in smaller markets than they are in larger ones.

Maloney also noted that the first-mover advantage was crucial in gaining mind share. His company now supports 8.8 million diners and processes 324,000 orders a day nationwide. Delivery doesn't have to be just a side dish for restaurants anymore, he said, it can be a main line of business.

Cramer said there's a lot to like about GrubHub.

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At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.