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NEW YORK (TheStreet) -- There's plenty wrong with this market, Jim Cramer said on Mad Money Wednesday, but don't blame the companies -- they're part of the solution, not the problem.

Cramer said he's tired of hearing how earnings have been "tepid" and revenue have been "light." From  Alcoa (AA - Get Report) to those earnings released Wednesday there have been very few cases of companies performing poorly. Even Coca-Cola (KO - Get Report) and Johnson & Johnson (JNJ - Get Report), a stock Cramer owns for his charitable trust, Action Alerts PLUS, were able to surprise to the upside this quarter.

Yes, JPMorgan Chase (JPM - Get Report), another Action Alerts PLUS holding, did deliver a horrible quarter, but others in the financial sector such as Wells Fargo (WFC - Get Report) were fantastic, Cramer said.

Cramer said he'd be a buyer of railroad CSX (CSX - Get Report) and of Google (GOOGL), two more Action Alerts PLUS stalwarts, having now seen those companies' rising earnings.

Cramer said investors need to acknowledge a positive change when they see one. Things are improving here in the U.S., he concluded, and this quarter's earnings are proving it.

Value for Your Portfolio

Value always has a place in every portfolio, Cramer told viewers, and in today's market value can be found in a stock like Coca-Cola.

Cramer said with a challenging environment here in the U.S., Coke decided to invest where the growth is, turning in spectacular results in Brazil, Russia, India and China. The company said it still has a lot more to do in these areas, meaning there's a lot more growth ahead.

Coke is also innovating, Cramer explained, as he showed off one of the company's new aluminum bottles -- it's not only eye-catching but exclusive to Coke.

Cramer also praised Coca-Cola for its efforts to reward shareholders. The company has raised its dividend for 50 consecutive years, most recently with a 9% dividend boost. Earlier this year, Coke also struck a deal with Green Mountain Coffee Roasters (GMCR), which should also begin rewarding shareholders soon.

Cramer said he's not crazy about Coke's stock at current levels but would be a buyer on weakness.

What Happened Yesterday?

What really happened to cause Tuesday's dramatic reversal of the markets? Cramer deconstructed the trading action to find out just what led to the surprising midday rally.

Cramer said it all started at 12:58 p.m. EDT, when the NYSE ARCA Biotech Index (BTK), an index that was down 22% for the year, suddenly pivoted. There was no news at this time, he continued, things just suddenly switched from sell to buy.

Then at 1:01 p.m., bond prices peaked, followed one minute later at 1:02 p.m. by a simultaneous bottoming of the S&P 500 and the Nasdaq.

Cramer said this series of reversals, all based on no news whatsoever, has all of the classic telltale signs of a programmatic rally, one where the machines decided the time was right to buy, buy, buy, which they did, almost in lock-step and with a vengeance.

Indeed, yesterday's change in fortunes seemed very artificial, Cramer concluded. The sea change could have been attributed to Twitter (TWTR), which bottomed at 1:05 p.m. and saw an accelerated rally at 1:10 p.m., but Cramer said it was clear that hedge funds were in forced-selling mode all morning, and that mode ended at 12:58 p.m.

The Power of Hate

Never underestimate the power of hate, Cramer told viewers. Incredible gains can be had from turnaround stocks, he continued, especially when no one believes the turn is for real.

Case in point, SandRidge Energy (SD - Get Report), a stock that traded as high as $67 a share back in 2008 but now trades at just $6.48 a share. Cramer said this dramatic turn of events stemmed from an undisciplined approach by the company's former CEO, one which over-promised and under-delivered time and time again.

But under SandRidge's new CEO, the company has beaten expectations for three consecutive quarters and is selling non-core assets to focus only on its more productive acreage. Moreover, the company's directors now own 10% of the company, with compensation plans directly tied to performance.

That good news hasn't been enough for the analysts, however, as there are only three buy ratings, 17 holds and five sells. SandRidge's tarnished history has Wall Street blinded, Cramer noted, which creates an opportunity for those who invest early.

Cramer said SandRidge now has better visibility with its production. It knows much much oil it has and how to get it. Put simply, SandRidge cannot afford to miss estimates, which is why those estimates have become very conservative. Shares of SandRidge trade way too cheap, Cramer concluded, and should be between $10 and $15 a share.

Lightning Round

In the Lightning Round, Cramer was bullish on Pharmacyclics (PCYC), Blackstone Group (BX - Get Report), American Airlines (AAL), Delta Air Lines (DAL - Get Report), United Continental Holdings (UAL - Get Report), Eagle Materials (EXP - Get Report) and Vulcan Materials (VMC - Get Report).

Cramer was bearish on Gigamon (GIMO) and Southwest Airlines (LUV - Get Report).

Off the Tape

In his "Off The Tape" segment, Cramer sat down with Neil Book, president and CEO of the privately held Jet Support Services, or JSSI, which helps companies maintain their fleets of business jets. JSSI also publishes a monthly business aviation index, which offers a measure of business jet activity across the company.

Book said during the recession, many business jets just stopped flying. But over the past four years, the country has been seeing steady growth month over month and year over year. He said the growth is not concentrated and spans a variety of sectors, with emerging markets also showing signs of strength.

Book was also bullish on the business jet market for 2014, saying sales of planes are up and it's still a buyer's market for those looking to expand their fleets.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

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

To email Scott about this article, click here: Scott Rutt

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At the time of publication, Cramer's Action Alerts PLUS had positions in CSX, GOOG, JNJ and JPM.