NEW YORK ( TheStreet) -- The machines were back in charge today, Jim Cramer said on Mad Money Wednesday. Yes, program trading was once again ignoring all the good news in our economy and focusing instead on all the bad, Cramer said. But that's great news for all those individual investors who may have missed the bottom.
Cramer explained that oil shedding another $2 a barrel, sinking to its lowest level since 2012, is great news for consumers, but for big money managers, it signals that the global economy is stalling and stocks are in trouble.

But despite the fact that our stock market is made up thousands of individual companies, some of which are actually doing quite well, these same fund managers tell their machines to sell, sell, sell the whole market using exchange-traded funds and other baskets of stocks.

So while some oil stocks are taking on too much risk given oil's continued slide, Cramer said the fact remains that cheap oil is a big win for airlines, restaurants and retail stocks, along with anyone who uses large amounts of commodities or ships things great distances.

Cramer said he'd circle back to winners like Honeywell (HON) or Dow Chemical (DOW) , a stock which Cramer owns for his charitable trust, Action Alerts PLUS. Cramer also gave the nod to some of the better oil stocks, like EOG Resources (EOG) , which should be finding its bottom soon.