Cramer's 'Mad Money' Recap: Buys Amid the Rubble
NEW YORK (TheStreet) -- It's time to head for the bomb shelters tomorrow at 2 p.m. ET, Jim Cramer told his "Mad Money" TV show viewers Tuesday.
He said that after the Federal Reserve's announcement the bears will be out in force. Only after the bombing has subsided should investors consider picking among the rubble.
Which stocks will rally first? Cramer said he's looking towards high-growth names and those hitting new 52-week highs. Stocks like Starbucks
Beyond Starbucks, Cramer said he'd consider buying some Google
Cramer said he also likes the financials, with names like Visa
Those stocks likely to be most hurt by the Fed's announcement will be anything high-yielding, such as real estate investment trusts and master limited partnerships, along with housing-related stocks and anything that's focused on emerging markets. Cramer thinks the banks will ultimately be OK, as they do better as interest rates rise.
So be prepared for the bombing to begin, but after 2 p.m. consider peeking outside the bomb shelter and doing a little buying, Cramer concluded.
Off the Charts
In the "Off The Charts" segment, Cramer went head to head with colleague Toni Hansen over the charts of two hated stocks on Wall Street, Intuitive Surgical
According to Hansen's analysis, a monthly chart of Intuitive Surgical shows the stock trending higher since 2004, but hitting a wall and trading sideways so far in 2013. This is not a concern, however, as the stock saw similar hiccups in 2009 and again in 2011. Since the generational low in 2009, the stock had risen 100%; just as the Fibonacci ratios predicted, that move was followed by a 38.2% retracement, which is now a floor of support.
Hansen felt that a move to $580 a share was now possible, which the stock hitting resistance at $534 and $561 a share.