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After a gigantic move in the markets, investors need to reassess their risk-reward profile, Jim Cramer told his Mad Money viewers Wednesday. As the market goes higher, so, too, will your risk. Cramer highlighted three stocks with very different risk-reward profiles.

First is Microsoft (MSFT - Get Report) , which just reported a terrific quarter that sent shares up 5.3%. The company saw 100% growth in its cloud offerings and has over $100 billion in cash. Yet, the stock trades at just 19 times earnings and only 16 times its projected 2018 earnings. Cramer said Microsoft is an outstanding bargain.

Next is Facebook (FB - Get Report) , an Action Alerts PLUS holding that Cramer called "relatively inexpensive" at 31 times earnings. He said while Facebook trades at a 50% premium to the average stock in the market, the company also has a 31% growth rate, which translates to just 20 times earnings in 2018.

Finally, Cramer looked at Amazon.com (AMZN - Get Report) , which doesn't trade on earnings because if it did, no one would pay 117 times those earnings, the highest multiple of any stock in the market. Amazon doesn't play by the rules, Cramer explained. The company will easily sacrifice earnings in the name of growth and market dominance. That's how Amazon grew 27% in just the last quarter alone.

Three stocks, three different risk-reward profiles. Which one is right for you? Cramer said only you can decide.

More on Pets

Continuing Tuesday's discussion of pet-related stocks, Cramer took a look at five more companies and offered his favorites.

When it comes to pet food, there are only two pure plays: Blue Buffalo Pet Products (BUFF) and FreshPet (FRPT - Get Report) . Blue Buffalo came public last year at $20 a share and peaked just over $28 before settling in the mid-$20s. The stock is up 40% so far in 2016 as the company is seeing accelerating earnings growth.

FreshPet is up 20% for the year, but is seeing its growth decelerating.

Other pet-related names include JM Smucker (SJM - Get Report) , which derives 29% of sales from such brands as Milk-Bone and Meow Mix. Henry Schein (HSIC - Get Report) , the dental products company, also has an animal health arm that represents 27% of sales. Finally, there's Central Garden & Pet (CENTA - Get Report) , which, as the name suggests, also includes pet products.

Of the pet food makers, Cramer said he's a fan of Blue Buffalo, but noted the stock isn't cheap at 30 times earnings. He is also a fan of Smucker and Henry Schein, but only on weakness.

An Expensive Market

There's good news and bad news with this stock market, Cramer told viewers. The bad news is the markets are getting expensive, with the average stock now trading at 20 times earnings. There are only two directions to go from here, Cramer said: Either stocks come down to lower multiples or companies earn more to justify the higher levels.

The good news is Cramer expects the latter. Case in point: Microsoft, which not only saw growth in the cloud but also in all of it's other segments, including Xbox and yes, even PCs. You just don't see growth in every division of a big company like Microsoft without economic tailwinds, Cramer said.

Need more proof? Illinois Tool Works (ITW - Get Report) , a basic industrial company, reported sharply better-than-expected earnings today. The news sent shares up 2.8% to all-time highs. Cramer said here, too, you need a booming economy to make this happen, especially since this company only gets 46% of sales domestically.

Finally, Cramer called out uniform supplier Cintas (CTAS - Get Report) , which also saw a strong quarter and guided analysts higher for the rest of 2016. You don't need more uniforms unless there's an economic expansion, Cramer concluded, which is why shares of Cintas soared 9.6% today.

So are stocks too high, or are earnings heading higher? Cramer thinks the answer is right in front of us.

Executive Decision: David Demshur

For his "Executive Decision" segment, Cramer checked in with David Demshur, chairman, president and CEO of Core Labs (CLB - Get Report) , a stock that's down 40% from its highs two years ago, but also one that's up 50% from its lows. The company just reported an in-line quarter with optimism for the future of the oil patch.

Demshur said he expects oil to break out above its current $50 a barrel ceiling and eventually head to $60 as demand continues to increase at a time when U.S. production continues to fall. He said the U.S. will need to double its rig count and will take about 18 months of production growth to stabilize prices.

Outside of the U.S., Demshur noted big projects underway off the coast of Africa that are seeing proven reserves between 800 million and 1.4 billion barrels. He said those fields could be online in just five to seven years and, thanks to new technology, will be profitable with $50 to $60 oil prices.

Also, Demshur is optimistic over U.S. shale oil, where Core Labs is helping drillers up output from 9% to 15% in some cases.

Cramer said he's not as certain as Demshur about oil prices heading to $60, but he said Core Labs continues to be a well-run company.

Lightning Round

In the Lightning Round, Cramer was bullish on Communication Sales (CSAL) , Digital Realty Trust (DLR - Get Report) ,

Cramer was bearish on Synergy Pharmaceuticals (SGYP) and Monsanto (MON) .

Executive Decision: Brad Jacobs

In his second "Executive Decision" segment, Cramer sat down with Brad Jacobs, chairman and CEO of XPO Logistics (XPO - Get Report) , a stock that's up 18% since Cramer last checked in September.

Jacobs said that after making 17 acquisitions over the past five years, XPO is now at an inflection point where it will be reaping those rewards. He said his company is the leader in so-called "last mile" deliveries, shipping heavy goods such as appliances that were purchased both online or in stores. Also, XPO is a leader in the returns business, getting unwanted items back to retailers.

When asked about Europe, Jacobs was upbeat, saying things are not as bad as many investors fear. He also noted that XPO has hedged its currency risk to minimize the effects of Brexit.

With over $1.25 billion in Ebitda earnings projected, Cramer said he's a believer.

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

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