Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.
NEW YORK (TheStreet) -- Those who embraced the panic Wednesday missed out on substantial gains, Jim Cramer said Thursday on "Mad Money". Cramer said leadership matters, and in this market the two most important sectors are indeed in charge.
The financials and technology make up the largest part of the S&P 500, Cramer explained, and these two key groups are vital to any sustainable market advance. That's why its great to see even the worst houses in these neighborhoods heading higher, a sure sign of continued strength to come.
Among the financials, Cramer said Citigroup (C) has not been a standout. The bank not only still has sizable exposure to the bad debts of its past, but it's also struggling with slowing emerging markets. Yet, shares of this challenged bank have been showing signs of strength.
Meanwhile, in technology, Cramer said that Intel (INTC) has seen numerous estimate cuts as that company continues to struggle making the transition to mobile. Yet, there, too, the stock has been buoyed of late, thanks to the overall strength of its sector.
There are still areas of froth and concern in the markets, Cramer noted, including the fuel cell stocks, 3-D printing and even some cloud names, but for the rest of the market valuations still remain near historic lows.
That's why Cramer said he's only keeping one eye on the Federal Reserve but not both of them. Those who only paid attention to the Fed yesterday missed out on totally "gettable" gains today.
Executive Decision: Michael Small
For his "Executive Decision" segment, Cramer spoke with Michael Small, president and CEO of Gogo (GOGO), the in-flight wifi provider that competes with Viasat (VSAT), whose CEO Cramer interviewed a week ago.
Small said the connected aircraft is the future of aviation and Gogo is proud to be the leading provider for global aviation. The company is ramping up its international efforts and building on its leadership position in a business where scale matters.
Small touted his company's new GTO service, which combines both satellite- and ground-based connectivity for an even faster wifi experience with better coverage across the U.S. That service will be available on its first plane by the end of summer and will ramp up throughout 2015, Small said. GTO will offer speeds up to 70 Mbps per plane, more than double the fastest service available today.
GTO will provide travelers with the ability to stream movies, for an additional fee, or view movies already preloaded on the plane.
When asked about the competition, Small said Gogo's contracts don't allow airlines to offer both services and it would be difficult for them to change providers. Equipment installed in a plane tends to stay with that plane, he noted.
Cramer said he was happy to present viewers with both sides of the in-flight wifi wars and viewers can decide for themselves which service they feel will be the winner.
Off the Charts
In a special March Madness edition of "Off The Charts," Cramer went head to head with colleague Ed Ponsi in a matchup of pizza, beer and buffalo wing stocks.
In the pizza division, Cramer pitted Papa John's (PZZA) against Domino's (DPZ). Ponsi noted that while both stocks have terrific charts at all-time highs, Domino's wins by a hair on volume. He noted that despite a strong showing for the stock, volumes have been low, meaning the big boys just aren't selling.
In the beer and wings division, Cramer chose Molson Coors (TAP) against Buffalo Wild Wings (BWLD), two more strong contenders. Here Ponsi chose Wild Wings, noting both an ascending triangle pattern and the bullish cup-and-handle formation.
For the championship between Domino's and Wild Wings, Ponsi once again sided with Wild Wings, noted that this stock is still in the early stages of a powerful rally that could propel the stock to $175 a share, or $22 higher than where it trades today.
Cramer said while he's still a big believer in Domino's, and indeed all four of these great stocks, even he cannot deny the bullish signals Buffalo Wild Wings is sending investors.
Executive Decision: Pierre Beaudoin
For his second "Executive Decision" segment, Cramer sat down with Pierre Beaudoin, president and CEO of aircraft maker Bombardier, which doesn't trade in the U.S. but is a major player around the globe.
Beaudoin said there is great demand for newer, more fuel-efficient aircraft as more and more older planes need replacing. Having more efficient planes means airlines can keep ticket prices low, which will never go out of style.
When asked why the big boys don't play in the regional and business jet space, Beaudoin explained that it takes a lot of time and expertise to develop, test and certify a plane that's both reliable and and safe and can withstand the rigors of 20 years of airline service, and Bombardier has developed the skills to deliver the right size planes to serve their market.
When asked about demand for newer jets versus older ones, Beaudoin said the business jet market has been growing since 2008. With so many advances in newer avionics, customers will always prefer newer planes over older ones.
No Huddle Offense
In his "No Huddle Offense" segment, Cramer pondered what a turnkey mobile payments and loyalty system would be worth if it were to go public in today's market -- $10 billion? What would that same system be worth to an acquirer -- $20 billion? More?
That's the dilemma Starbucks (SBUX) faces with its mobile payment system, a potential $20 billion business buried within a highly successful $58 billion coffee chain.
Cramer said Starbucks has become a stealth technology play with its mobile payments platform because it understands the power of mobile, social and the cloud. With other companies already calling on the company to license the technology, Cramer said it likely won't be long before CEO Howard Schultz figures out a way to monetize this hidden gem.
To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.
To sign up for Jim Cramer's free Booyah! newsletter with all of his latest articles and videos please click here.
-- Written by Scott Rutt in Washington, D.C.
To email Scott about this article, click here: Scott Rutt