"Today was the day the Federal Reserve finally blinked and woke up from its reckless stupor," Jim Cramer told viewers of his "Mad Money" TV show Tuesday. "Today may be the beginning of the end of this nightmarish market," Cramer said before a special "Ladies Night" audience. Without Tuesday's emergency move, Cramer said the market could have dropped 1,000 points or even 1,500 points. He said more cuts are needed to turn around the markets. With Tuesday's rate cut, though, Cramer sees some opportunities arising. He advised investors to exercise caution on bank stocks. While banks will be making more money after the Fed's action, he said they're still too difficult to invest in.