The stock market got clobbered as soon as president-elect Donald Trump began his press conference earlier today, Jim Cramer told his Mad Money viewers Wednesday. That's why Cramer suggested sticking with stocks that Trump doesn't have issues with.

Indeed, Trump became a one-man wrecking crew when he suggested that drug companies need a lot more price competition. Drug makers and biotech stocks immediately plunged on the news, leaving investors who had thought the drug sector wasn't on Trump's hit list stunned.

Cramer reminded viewers that while Trump is pro-business, that doesn't mean he's pro-stocks. Trump believes that a rising tide will lift most, but not all, boats and he seems perfectly willing to leave a few sectors lying at the bottom of the sea.

Cramer also reminded viewers that there are a lot of misconceptions about what our president can and cannot do. Lowering taxes, repatriating funds and spending on infrastructure all require cooperation from Congress. Enforcing, or in Trump's case, not enforcing, regulations does not require Congress.

That's why Cramer said he'd avoid the drug stocks and any mall-based retailers and instead, stick with stocks we know Trump likes, mainly the oils and the banks, both of which are in the sweet spot.

Breaking Up Is Good To Do 

Breaking up is a great way to create value for shareholders, Cramer reminded viewers, as he took a closer look at AdvanSix (ASIX) , the recent spinoff from long-time Cramer fav Honeywell (HON) .

Cramer explained that after its failed merger attempt with United Technologies (UTX) last year, Honeywell crafted a new plan: to spin off its nylon and fertilizer business as AdvanSix, which began trading as an independent company in September.

AdvanSix' main product is called nylon six, a popular form of nylon used in everything from toothbrushes to guitar strings. Nylon six accounts for 45% of AdvanSix sales, but the company also makes fertilizers and various chemical intermediates.

AdvanSix makes all of its products right here in the U.S., keeping it off Trump's radar. The company also has a vertically integrated business model which means it's in control of its supply chain.

Cramer said with a good economic environment, AdvanSix should be poised for growth going forward, but he'd prefer to see the stock lower before starting a position.

Taking Care of Health

No one know what will happen with health care once Donald Trump takes office, Cramer told viewers, but that doesn't mean there aren't ways to make money in health-care stocks.

For months now, the mantra has been "repeal and replace" when it comes to Obama's Affordable Care Act. Repealing the law is easy, Cramer said, but so far no one has any idea what it will be replaced with. In such a murky environment, that makes owning health-care stocks a risky proposition. Unless of course, you own UnitedHealth Group (UNH) .

UnitedHealth, in addition to being our nation's largest health insurer, has already removed itself from the Affordable Care exchanges, thus limiting its exposure to the upcoming changes, whatever they may be. Cramer said he also likes the company's Optum pharmacy benefit management business and UnitedHealth's other efforts to diversify itself.

Shares of UnitedHealth are up 14% since the election and currently trade at 18 times earnings. Cramer said he'd start a position slowly and wait to hear what the company reports later this month.

Cramer and Jack Mohr are telling their investment club members they are ready to pull the trigger on Walgreens (WBA) -- almost. Read why and when with a free subscription to Action Alerts PLUS.

Executive Decision: Pegasystems

For his "Executive Decision" segment, Cramer sat down with Alan Trefler, chairman and CEO of Pegasystems (PEGA) , the software provider that helps industries like banking, insurance, healthcare and manufacturing get their work done.

Trefler said that Pegasystems has three core technologies in their platform and can provide integrated, end-to-end solutions for customers instead of patchwork solutions. Pegasystems is not about "fluff", Trefler continued; they provide the software and processes that get the real work done.

When asked about his industry's fondness for mergers, Trefler said that he's not a fan of software mergers at all. He said that mergers hurt the quality and evolution of software and they have hurt the long-term prospects of his industry overall. Companies are much better off when the focus on their customers and evolve naturally.

Lightning Round

In the Lightning Round, Cramer was bullish on Berkshire Hathaway (BRK.B) , Dominion Resources (D) , American Electric Power (AEP) , Wisconsin Energy (WEC) , SAP AG (SAP) , Accenture (ACN) , Mettler-Toledo International (MTD) , McDermott International (MDR) and Freeport-McMoRan (FCX) .

Cramer was bearish on Westar Energy (WR) and Halyard Health (HYH) .

Read what Cramer said about these stocks in the Lightning Round.

No-Huddle Offense

In his "No-Huddle Offense" segment, Cramer pondered what happened to the "pajama traders," those traders that would influence the market's open by obsessively focusing on extraneous data from overseas.

Whether it was a European bank failure or the latest Chinese economic data, these early morning traders would trade, often incorrectly, on every minute macro-economic detail. That was, until the election, when the market's focus suddenly switched to Trump and individual companies.

Cramer said the pajama trend was squashed both by an improving world economy that is producing fewer crises, and hopefully, by these reactive traders getting pushed out of the market for good.

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

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