NEW YORK (TheStreet) -- On his Wednesday Stop Trading! segment on CNBC, Jim Cramer said to keep an eye on Teva Pharmaceutical Industries (TEVA - Get Report), which Cramer owns for his charitable trust, because unlike many of the other stocks that are trading in negative territory Wednesday, it's down purely for technical reasons.

Teva and other Israeli stocks have been experiencing a sell-off as the country undergoes a reclassification in the international stock indices as a developed market.

Teva stock, Cramer said, is not being hurt by Europe and will reverse itself.

Cramer on Wednesday again emphasized that Jean-Claude Trichet, president of the European Central Bank, really needs to get his act together; the markets cannot have a sustained rally until they "speak up and say something," according to Cramer. He believes that the ECB needs to do a quantitative ease soon.

In this market, "every rally is going to be a sell opportunity except for high-yield stocks," he said.

Cramer cautioned against getting too excited about any market rally these days.

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Cramer lamented that Banco Santander ( STD) and Banco Bilbao ( BBVA), two large Spanish banks, are good banks -- just in the wrong country.

"They could use a TARP in Europe," he said.

On a positive note, Cramer is seeing a rebound in China's consumer market, which he said, should help SanDisk ( SNDK).

Cramer believes that Sandisk has been a sign that there is, indeed, health in the gadget market.

On Wednesday, two individuals -- one of them a Disney ( DIS - Get Report) employee -- were arrested by FBI agents on charges of insider-related trading; they were allegedly trying to sell sensitive financial information on Disney to various investment firms.

Cramer shrugged off the news and said, there are "bad actors everywhere." As for Disney itself -- he thinks it's a well-managed company which has come down tremendously, even though its fundamentals are getting better. He said Disney's had a great quarter and likes that lower gas prices are encouraging more people to visit Disneyland.
Cramer's Stop Trading!: Vodafone, IBM
Click here for Cramer's Tuesday Stop Trading! segment.

-- Reported by Andrea Tse in New York

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