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NEW YORK (TheStreet) -- If Apple (AAPL) shares are able to find a bottom point tomorrow, everyone else will, too, Jim Cramer told his Mad Money viewers Thursday as he tried to find that one stock that could hold the key to the markets.

When investors buy a stock, they expect that company to post great revenue and great earnings every quarter. That, in turn, will fuel the analysts to raise estimates and shares will head higher. The company can then further reward shareholders with big dividends and stock buybacks.

At least, that's the way its supposed to work. But in the case of Apple, a stock Cramer owns for his charitable trust, Action Alerts PLUS, the company did all of those things and shares have fallen in a straight line ever since.

"I see things out there I just don't like," Cramer told viewers. If the markets won't reward Apple for posting one of the best quarters in corporate history, then the rest of the markets are in trouble.

The exact scenario was seen through today's session, with Yelp (YELPshares slammed 23% on its earnings release, LinkedIn (LNKD) posting a massive 24% decline on its earnings and AmerisourceBergen (AB) giving back nearly all of its gains after it reported.

What could help stem these declines? Oil could stop going higher, or the sellers could just fizzle out eventually, or perhaps new leadership could emerge. The banks maybe? REITs?

Cramer told viewers they should keep an eye on Apple, because when Apple bottoms, the overall markets will likely bottom as well.

Executive Decision: Sandy Cutler

For his "Executive Decision" segment, Cramer checked in with Sandy Cutler, chairman and CEO of Eaton (ETN), another Action Alerts PLUS holding and a stock with a 3.2% yield.

Cutler highlighted a number of bright spot in Eaton's most recent quarter, including the recent acquisition of Cooper Industries. Not only is Eaton seeing some $150 million in cost synergies but Cooper has now made Eaton a leader in the fast-growing LED lighting segment. Cutler said LED lighting is now 50% of the company's lighting category.

Eaton also saw strength in trucking, with both heavy-duty and light trucks strong both inside the U.S. and abroad. Trucks are still pining for more fuel economy and better emissions, Cutler explained. That's what Eaton offers.

With so many things going right, Cramer said this is one stock investors shouldn't be selling.

Oil Stocks? Too Late

Is it finally time to start buying the oil stocks? Cramer gave a resounding "No," but not because it's too early for investors to bet on a recovery in oil but because they're already too late.

Yes, Exxon Mobil (XOM) was able to post slight production gains, while over at ConocoPhillips (COP), it looks like the worst is definitely behind them. But you don't buy oil stocks based on either of these two stocks, you buy based on Richard Kinder over at Kinder Morgan (KMI).

Back in February and March, when oil was at $43 a barrel, Kinder made the bold move of both calling a bottom and putting his money where his mouth is, buying Hiland Partners from Harold Hamm for $3 billion.

That proved to be the true bottom for oil, which has since risen to $60 a barrel. Other smart companies like Carrizo Oil & Gas (CRZO), Concho Resources (CXO) and Whiting Petroleum (WLL) also called the bottom when they all issued up secondary offerings of stock to bolster their balance sheets.

"That's what a bottom looks like," Cramer concluded.

Executive Decision: Dinesh Paliwal

In his second "Executive Decision" segment, Cramer sat down with Dinesh Paliwal, chairman, president and CEO of Harman Int'l (HAR), the connected-car infotainment company that disappointed Wall Street by cutting forecasts, sending shares plunging 7% on the day.

Paliwal said the Harman thesis remains intact and auto sales remain strong with 19% growth with quarter and $3.2 billion worth of new orders coming in for the next generation of connected cars.

Where Harman fell short this quarter was in the professional audio business, which is largely dollar denominated and had a tough time in Russia, China and elsewhere given strong currency headwinds. Harman is making adjustments however, Paliwal said.

Paliwal also explained Harman's two recent acquisitions, which will give his company a dominant position in cloud-based applications for autos and the over-the-air updates that will be required to make them a reality. Harman has no plans to sell any assets from either of these acquisitions but will keep them and grow them to diversify the company's portfolio of products and services.

Lightning Round

In the Lightning Round, Cramer was bullish on Opko Health (OPK) and Sonic (SONC).

Cramer was bearish on Ensco International (ESV), Groupon (GRPN) and Splunk (SPLK).

Off the Tape

In his "Off the Tape" segment, Cramer sat down with Sam Shank, co-founder and CEO of the privately held HotelTonight, the mobile app that plays matchmaker for consumers looking to book a last-minute hotel room.

Shank explained HotelTonight allows its customers to book a room up to seven days in advance, allowing them to get a great last-minute deal while hotels receive incremental revenue for rooms that would otherwise be vacant.

HotelTonight even has an app for the Apple Watch which will show a user the five closest hotels to them and allow them to book with just a tap. Shank said the model allows customers to shop across multiple options while hotels can update their inventory in real time. Some hotels can update their pricing as often as 15 times a day, he noted.

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.

At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL and ETN.

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