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NEW YORK (TheStreet ) — The markets are turning into a battlefield. Jim Cramer told his Mad Money viewers Wednesday. Fortunately, Cramer can report from the front lines, saying investors need to pay attention to the pin action to see what’s really worth buying.

Case in point: home goods retailer Wayfair (W ). Cramer said this stock had been cut in half since its October initial public offering but rallied 14% today after reporting 55% revenue growth this quarter. But the story is not Wayfair, Cramer continued, it’s related stocks like Restoration Hardware (RH ) and Urban Outfitters (URBN ). both of which rallied on the news, that matter.

Cramer said this positive pin action was also seen in the biotech sector today. as well as in the semiconductor space. He told viewers to watch the stocks that stabilized today, because those will be the stocks to buy tomorrow.

Executive Decision: Dave Cote

For his Executive Decision segment, Cramer sat down on location with Dave Cote, chairman and CEO of Honeywell (HON — Get Report ). at the company’s analyst day for the latest read on the company and on the global economy.

Cote said he’s very excited about the outlook for Honeywell as his company has great new products in every one of its business lines. He said Honeywell’s 22,000 engineers are taking a smart approach to our new connected world, taking a fresh look as connect homes, buildings, factories, workers, cars, planes and more.

Cote was also bullish on China. a country he said is becoming an economic powerhouse. He said it’s important that Honeywell is able to beat its Chinese competitors in China because if it can’t compete there, Honeywell won’t stand a chance elsewhere in the world.

Turning to the topic of cash, Cote explained that Honeywell now generates a ton of cash, enough to fund its reinvestment efforts, along with mergers and acquisitions, dividends and stock buybacks.

Finally, when asked about oil prices, Cote explained that he sees two markets for oil. He said upstream, oil drillers will need to cut back drilling if prices stay low. But downstream, the refiners actually win, as cheaper oil means more economic activity. He said the savings at the pump really matters for families and small businesses.

Cramer said that Honeywell remains one of his favorite industrial companies.