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NEW YORK ( TheStreet) -- "It's easy to pin today's rally on the Federal Reserve," Jim Cramer told the viewers of his "Mad Money"TV show Wednesday.

He said that would be a mistake because today's rally was not a one-man show but rather an ensemble of bullish factors.

Cramer noted that today's rally was born out of China, where the latest indicators are pointing to a soft landing for that economy, which is good news for stocks like Caterpillar ( CAT) and Cummins ( CMI), two stocks which Cramer owns for his charitable trust, Action Alerts PLUS. The rally was further fueled by strong production numbers out of Japan, which is good news for mining and minerals stocks.

In technology, the rally was ratcheted up the likes of Google ( GOOG), ( AMZN) and Netflix ( NFLX - Get Report), said Cramer, while retail and restaurants like Chipotle Mexican Grill ( CMG) was also on fire.

Cramer said he also liked the news out of Capital One ( COF), which showed that the U.S. consumer may be better off than expected.

But the real driver for today's rally, said Cramer, was the lack of news out of Europe. Cramer said large hedge funds are in control of the S&P 500 futures, and it won't be long before more negative headlines send them back into sell mode.

So for all those who feel Fed chairman Ben Bernanke caused today's upward action, Cramer said "sorry, not this time."

Barge Bull Market

Cramer offered special thanks to Carrizo Oil & Gas ( CRZO) CEO Chip Johnson for appearing on last night's show. He said Johnson unknowingly identified a bull market in barges, as oil companies are using all of the barges they can find to ship oil to Louisiana.

Cramer said the pin action off of Johnson's comments led him to Kirby ( KEX), our country's largest inland tank barge operator. Kirby operates 829 barges and 249 towing vessels, primarily along the Mississippi River, and derives 60% of its revenues by transporting petro-chemical products.

Even with shares of Kirby near their 52-week highs, Cramer said the company is still a buy and he'd get into the stock before the company reports earnings on July 27. He said the supply for new barges is very limited, but demand is through the roof, which means Kirby should beat the estimates handedly. Kirby is also protected from foreign competition, making its story even more compelling.

Kirby currently trades at just 16.8 times earnings, despite a 15% long-term growth rate. Even if shares were to return to historical averages, Kirby would trade at 21 times earnings, or $84 a share, a 45% increase from current levels.

Making Sense of Netflix's Price Hike

"Netflix isn't committing suicide by raising prices," Cramer told viewers, responding to the cat calls from critics accusing the company of alienating its user base. He said Netflix has delivered a 450% gain since he first got behind the company in Octoberdd 2009 and management deserves the benefit of the doubt.

Cramer said while the price increases might not sit well with users at first, as a business strategy it makes perfect sense. He said delivering DVDs by mail is simply more expensive than streaming them digitally over the Internet, so of course it makes sense to coax more subscribers into streaming by making them pay up for the old-fashioned DVD by mail service.

Netflix could potentially see a 20% boost in revenue per subscriber, said Cramer, a number that would be huge for the company. He said Netflix also recently announced that its expanding into 43 new countries in Latin America and the Caribbean, a move which represents only the tip of the company's international expansion plans.

"Where else are you going to get your movies," asked Cramer? He said Netflix clearly has the scale to outperform any competitor. In the long run, he said, an extra $6 a month for Netflix' service will not seem like a big deal. "People used to get milk and diapers delivered to their homes," said Cramer, "but that too got too expensive."

Am I Diversified?

Cramer spoke with callers to see if their portfolios have what it takes. The first caller's portfolio included Calumet Specialty Products ( CLMT), Duke Energy ( DUK), El Paso ( EP), PVR Partners ( PVR) and Westport Innovations ( WPRT).

Cramer said El Paso was too much like Calumet and one needed to be sold for proper diversification but he'd bless the portfolio.

The second caller's top holdings included Caterpillar ( CAT), Hess ( HES), Potash ( POT), Perrigo ( PRGO) and Whole Foods Market ( WFM).

Cramer said this portfolio has exactly what he's looking for.

The third caller had Energy Transfer Partners ( ETP), Weight Watchers ( WTW), Alcoa ( AA), John Deere ( DE) and Bank of America ( BAC).

Cramer praised this portfolio for its growth and its dividend yield.

Lightning Round

Cramer was bullish on Southern Company ( SO - Get Report), VF Corp ( VFC - Get Report), Consolidated Edison ( ED - Get Report), McDonald's ( MCD - Get Report), SPDR Gold Shares ( GLD - Get Report), CenturyLink ( CTL - Get Report), Windstream ( WIN), Quest Diagnostics ( DGX - Get Report)and Ford Motor ( F - Get Report).

He was bearish on Arcos Dorados ( ARCO)and iShares Silver Trust ( SLV).

Closing Comments

Cramer opined on the phone hacking scandal that's rocking the shares of News Corp ( NWSA). "Does this scandal really matter?"

Cramer said if News Corp was just a newspaper empire, he would feel differently, but with so many diversified properties, Cramer said this scandal simply doesn't affect the company's earnings per share.

He said News Corp has only seen headline risk so far, not earnings risks. When the headlines fade away, he said, News Corp will once again be a buy.

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

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At the time of publication, Cramer was long Caterpillar, Cummins.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for, Inc., and CNBC, and a director and co-founder of All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

Some of the stocks mentioned by Mr. Cramer on "Mad Money" are held in Mr. Cramer's Action Alerts PLUS Portfolio. When that is the case, appropriate disclosure is made on the program and in the "Mad Money" recap available on The Action Alerts PLUS Portfolio contains all of Mr. Cramer's personal investments in publicly-traded equity securities only, and does not include any mutual fund holdings or other institutionally managed assets, private equity investments, or his holdings in, Inc. Since March 2005, the Action Alerts PLUS Portfolio has been held by a Trust, the realized profits from which have been pledged to charity. Mr. Cramer retains full investment discretion with respect to all securities contained in the Trust. Mr. Cramer is subject to certain trading restrictions, and must hold all securities in the Action Alerts PLUS Portfolio for at least one month, and is not permitted to buy or sell any security he has spoken about on television or on his radio program for five days following the broadcast.