Stocks have rebounded Wednesday from the rout of the previous two days, with the S&P 500 index up 2.1 percent, and star CNBC commentator Jim Cramer called the move.

"I think you get a better moment," he said before the market's opening. "It's better than yesterday because of China and the takeover bid, but it's still not great."

China announced it will be flooding its financial system with liquidity, lowering interest rates and bank reserve requirements.

The takeover bid refers to the agreement for Schlumberger, the world's largest oil-field services company, to buy its smaller competitor Cameron International for $12.71 billion.

"Schlumberger is the smartest company in the oil patch, and they're making an acquisition that's very positive, because we have been waiting for consolidation there," Cramer said.

So when should investors jump into stocks? "I just prefer to buy some point intraday where the futures aren't totally in control," Cramer said.

On the private side of the equity market, start-up technology companies have been all the rage over the past few years, with 115 of them now valued at $1 billion or more, according to The Wall Street Journal.

Those companies, backed by venture-capital funds, are known as "unicorns," named after the mythical horned beast. But now these beasts may be losing their horns. The plunging stock market puts them at risk. The S&P 500 index has dropped 11 percent from its May 20 record high.

Venky Ganesan, a managing director at Menlo Ventures, told The New York Times that start-ups have been spending money like drunken sailors recently. "There is already a chill in the late­stage funding market," he said.

Start-ups have turned to mutual funds to finance much of their cash needs. “If you see down rounds and mutual funds report losses on private companies, then things will spiral downward very fast,” he said. “Like in ‘Game of Thrones,’ winter is coming.”

So individual investors may have the last laugh, watching bigger investors lose their money on some of these unicorns.

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