Jim Cramer's 'Mad Money' Recap: The Bulls Have Their Day

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NEW YORK (TheStreet) -- "I'm tired of hearing that the bulls are way too smug," Jim Cramer said on Mad Money Wednesday.

The S&P 500 closed at another record high on Wednesday, for the 20th time so far in 2014, Cramer said, so its not a mistake for the bulls to be complacent -- if they happen to be right.

Short-selling ahead of Fed Chair Janet Yellen's comments Wednesday proved shortsighted. They lost money as the market exploded during her press conference, Cramer said, particularly when she said that inflation is peaking.

Cramer was worried about two companies' earnings going into Wednesday trading: Adobe (ADBE) and FedEx (FDX). Abode is a "big cloud play" now, but how natural would it be to disappoint? The company closed up 8.2% Wednesday.

As for FedEx, there were concerns about the consumer and global commerce in the marketplace, Cramer said. The stock closed up nearly 6.2% Wednesday. The real problem in the market, Cramer said, was a surfeit of skepticism.

Cramer's bottom line: It's possible the optimism isn't misplaced and that it's the "ultra-skeptics" that are wrong. The skepticism has cost you more than the optimism. The optimism isn't based in complacency, Cramer said, but based on the facts.

Energy Revolution

Cramer thinks it's time to pay attention to the oil and gas revolution currently taking the country by storm. The energy boom feels like it's happening too fast, and Cramer sees profits to be made or lost on paying attention to these changes.

North Dakota's oil production has tripled in the last three years, exceeding optimistic expectations, Cramer said, and leaving California and Alaska in the rear-view mirror.  The only problem is, North Dakota's energy production is lessened by infrastructural deficiencies -- the oil is shipped by railcars rather than pipelines, costing thousands of dollars and countless hours of time from workers.

No one in our government has sat down with anyone in this industry, "at least visibly," to work out the potential for natural gas in this country, Cramer said.  What it comes down to for Cramer is lots of jobs of North Dakota. Oil gets lost in the system and our country cares more about Iraq.

Down Mexico Way

Continuing his week-long World Cup-themed winners, Cramer looked at Mexico, another country that's "kicking butt."

Cramer's focus on the Mexican soccer team of the stock market? Constellation Brands (STZ), which while based in upstate New York is the seller of Modelo and Corona beer, the two hottest parts of the business, Cramer said. The stock is up more than 535% over the last five years.

Cramer thinks the stock is still inexpensive given its growth and upcoming catalysts. Constellation has been importing Modelo beers for years in a 50-50 deal with Crown Imports, and the game changer came when Anheuser Busch Inbev (BUD) bought Grupo Modelo. The Justice Department intervened, forcing Bud to sell Modelo's U.S. beer business, which Constellation promptly snapped up for "a total steal" at $4.75 billion.

Importing beer is not the same as making it, Cramer says -- a good lesson as to how some of the best global stocks can help you you exceed your investing goals. When Constellation Brands bought Grupo Modelo's U.S. business, it also took over Modelo's American brands.

Executive Decision: T. M. 'Roe' Patterson

In his "Executive Decision" segment, Cramer sat down with T. M. "Roe" Patterson of Basic Energy Services (BAS), which provides services to more than 2,000 oil and gas companies.

The Permian Basin is the hottest play in the oil field market. Just this week, BAS reported strong operating data for May but the stock got slammed on June 10 because of problems with a secondary offering.

Could this be a buying opportunity? Patterson said the Permian Basin is "the gift that keeps on giving."

Patterson acknowledged that there is regulatory pressure around his industry but the company is good at answering and maneuvering around it.

Companies like this are going to have many good years, Cramer said, even though many think they're one quarter away from being finished.

Lightning Round

In the Lightning Round, Cramer was bullish on Crestwood Midstream (CMLP).

Cramer was bearish on Linn Energy (LINE), Diana Shipping (DSX) and Ubiquiti Networks (UBNT).

Executive Decision: Debra Cafaro

Given that investors are treating real estate investment trusts as fixed-income equivalents and have taken it on the chin since rates have started to climb, Cramer thought it was a good time to look at Ventas (VTR), a stock with a hefty 4.6% yield and benefiting from terrific growth in senior housing and health care.

Cramer's a fan since the company is benefiting from an aging U.S. population and is a consolidator. Ventas is able to borrow money cheaply, thus its potential to do more deals is huge.

CEO Debra Cafaro explained the company is fueled by the aging demographics in the U.S. Domestically, she thinks the company can grow in a highly fragmented, multi-trillion-dollar real estate market.

Cafaro estimates public REITs are likely to own about 12% of the $1 trillion senior housing and health care real estate market. She's also eying similar developed countries with aging populations internationally.

Cramer calls Cafaro one of the 21 best CEOs to invest in, and sees continued success for her company and its shareholders.

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

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-- Written by Chris Sahl in Boston.

At the time of publication, Cramer's Action Alerts PLUS had no position in stocks mentioned.

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