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When the markets give you an unexpected rally, sometimes it's best to just go with it, Jim Cramer told his Mad Money viewers Wednesday. Even with investor sentiment hitting its most bearish levels since February, Cramer said he still wants to buy the most hated groups, mainly tech, oil and the banks.

The markets may fear looming interest rate hikes, but Cramer reminded viewers that the banks actually do better with higher rates. That makes JPMorgan Chase (JPM) , along with Wells Fargo (WFC) and Citigroup (C) , two stocks Cramer owns for his charitable trust, Action Alerts PLUS, very inexpensive. Cramer said Citi remains his favorite in the group.

Then there's oil, which despite rising inventories may finally be getting a boost from warmer weather prompting the start of air conditioning season for much of the country.

Finally, there's tech, where the Hewlett Packard Enterprise (HPE) spinoff and merger with Computer Sciences (CSC) sent the latter up 42% on the day. Cramer is also bullish on Apple (AAPL) , another Action Alerts PLUS name, which has begun a slow recovery.

Own Tractor Supply

At a time when most retailers are getting pummeled, investors need to own a stock that's immune to (AMZN) , one that is exceptional in its niche and can seemingly defy gravity.

That retailer is Tractor Supply (TSCO) , the rural farm and garden chain with 1,500 locations in 49 states. The stock of Tractor Supply is up 11% for the year, at a time when the retail index is down 3%.

What makes Tractor Supply so attractive? Cramer said the company is the total opposite of a mall-based retailer, opting for rural locations with less competition. Many of the items Tractor Supply sells are too heavy to be shipped from Amazon. The company also fosters a community feel which customers love.

Tractor Supply is making a lot of smart business moves, Cramer continued, such as adding private-label products and taking advantage of the growing pet and sustainability themes in our country. Tractor Supply is also implementing a new inventory system to help better manage its costs.

When it last reported on April 20, Tractor Supply delivered a 4-cents-a-share earnings beat on a 10.5% rise in revenue. The stock trades at a lofty 23 times earnings, higher than a Lowe's (LOW) or Home Depot (HD) , but Cramer said the company deserves that multiple given how well it serves its niche.

Time to Buy Netflix

After rising a staggering 134% last year, shares of Netflix (NFLX) have sunk 12% so far in 2016. With the negativity surrounding the stock seemingly at all-time highs, is now the time to sell or to buy, buy, buy?

Cramer said we've seen this pattern at Netflix before, as the stock had similar slumps in 2011 and again in 2014. After delivering 30% subscriber growth last year, Netflix offered conservative guidance for the remainder of this year, while noting that spending on programming and content will continue at lofty levels.

Add to that the fact that Netflix also told investors that it make take two years to break into the lucrative Chinese market and it's easy to see why some shareholders are jumping ship.

But Cramer said there's still a lot to like at Netflix. First, the company has the ability to raise prices. Just a $1 a month increase translates into $1 billion in annual revenue and the company already did raise prices for new customers, a price increase that extends to existing customers soon.

Additionally, Cramer said Netflix' recent deal with Walt Disney (DIS) for an exclusivity window on new releases is a big deal for the company.

In the end, Cramer said this pullback will likely be like all of the others Netflix has endured, and shareholders who get in at the lows will be rewarded.

Executive Decision: Manny Chirico

For his "Executive Decision" segment, Cramer sat down with Manny Chirico, chairman and CEO of PVH (PVH) , purveyors of the Clavin Klein and Tommy Hilfiger brands, among others. Shares of PVH are up 20% so far in 2016 after just delivering a 6-cents-a-share earnings beat with higher full-year guidance.

Chirico reminded investors that 50% of PVH's sales now originate internationally, which accounts for 60% of profits. The company is not just a department store play because it has a multi-channel approach that includes Amazon as one of its biggest customers.

Chirico said Amazon excels at providing the basics, so products like ties and underwear sell very well online. That's one of the reasons Calvin Klein is the number one underwear brand.

When asked about those struggling department stores, Chirico said those retailers are reacting and evolving to meet the needs of their customers. He said pruning the number of stores is the right thing to do in many cases, even if it is the unpopular course of action.

Cramer told viewers not to miss the upside in PVH, as the company is not hostage to the plights of mall-based department stores.

Lightning Round

In the Lightning Round, Cramer was bullish on Acadia Pharmaceuticals (ACAD) , Micron Technology (MU) , Thermo Fisher Scientific (TMO) , SunTrust Banks (STI) , Advanced Micro Devices (AMD) , Pentair (PNR) , Occidental Petroleum (OXY) and Berkshire Hathaway (BRK.B) .

Cramer was bearish on Gilead Sciences (GILD) , Compugen (CGEN) and Callon Petroleum (CPE) .

No Huddle Offense

In his "No Huddle Offense" segment, Cramer said it's time to buy the stock of Toll Brothers (TOL) , as the demand for housing has finally outstripped supply.

The housing sector has fooled us many times before, Cramer said, but this time Toll Brothers noted on its conference call that there is only 4.7 months of housing inventory at the moment, and that's based on the current pace of sales.

Rising interest rates, Toll noted, will spur home buyers into action and that will only add to the demand.

That's why Cramer said with demand already strong and Toll delivering terrific gross margins, now's the time to give this stock a second look.

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, C, OXY, TMO and WFC.

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