Search Jim Cramer's "Mad Money" trading recommendations using our exclusive "Mad Money" Stock Screener.
NEW YORK ( TheStreet) -- What other company can meet and unmet demand and create a global publicity storm in the process? Only Apple ( AAPL) , Jim Cramer said on Mad Money Wednesday.
Cramer said Apple, a stock he owns for his charitable trust, Action Alerts PLUS, has become the poster child for giving customers what they didn't even know they needed, and yesterday the company did it again with an iPhone-based payment system and a health-tracking "smart" watch.
Read More: Warren Buffett's Top 10 Dividend Stocks
Only Apple could assemble a critical mass of stores, restaurants, ecommerce companies and credit card processors to make paying with your phone finally a mainstream activity, Cramer said, and only Apple could devise a watch to track your health and display notifications in a way that you'd actually want to wear it.
But Apple isn't the only company meeting unmet needs, Cramer continued. Deckers Brands (DECK) reinvented the dress shoe with Rockport and is now working on running and yoga footwear.
GoPro (GPRO) is another company meeting the unmet desire to capture all sorts of action sports, while Twitter (TWTR) , another Action Alerts PLUS name, is meeting our daily, hourly and sometimes constant need for the latest news updates.
Cramer said all of these companies are innovators, and all have been rewarded with higher share prices.
Mind Your Metrics
Always know what makes your stocks go up and down, Cramer told viewers. Every stock has a certain metric to which it is tied, and that metric makes all the difference.
In the case of EOG Resources (EOG) , that metric is simply the price of oil. Other metrics, like production and reserves, are important when gauging the health of the company, Cramer said, but when it comes to the day-to-day price of the stock EOG trades will the price of oil.
Banks, on the other hand, trade on interest rates. When rates are rising, banks make more money and see their stocks soar. When rates fall, so do their stocks.
Cramer reminded viewers the markets are dominated by exchange-traded funds, and that means that many stocks are lumped together into baskets and trade together.
Now is the time to start investing in the oil patch, Cramer concluded. The price of oil may still fall but when it turns it will turn sharply. He suggested a company like Royal Dutch Shell (RDS.A) , another Action Alerts PLUS fave, which is doing well and has a solid dividend that pays you to wait for that turn to happen.