Jim Cramer's Portfolios of the Week

All eyes were on the Fed this week, and on Tuesday the central bank finally did what Jim Cramer had been calling for over the last few months. Cramer believes things are now better.

In a RealMoney blog post that day, Cramer said, "We can't sell a lot of homes -- despite the fire sales -- and we need the fixed-income world to get back to earth. We need people to lend. We need people to feel better. And now they will." This is not good news for the bears. Stocks are back in favor and Cramer pointed out several areas to explore this past week.

Here are some Cramer highlights from the past week as aggregated from his "Mad Money" TV show, the "Stop Trading!" segment on CNBC and his RealMoney blog posts.

Cramer's Bernanke Celebration Portfolio: On Tuesday's "Mad Money" show Cramer said he believes that day's 50-basis-point rate cut is likely the first of several cuts. Because he expects three more cuts, Cramer says it's stock-buying time. Cramer's Bernanke Celebration Portfolio includes Wachovia(WB Quote) and Deere(DE Quote).

Cramer's 5 Plays: Cramer was super excited about all that was happening this past week. In a Sept. 17 blog post, he wrote: "If it weren't enough to have big broker earnings and a Fed meeting and a ton of macro data, it is expiration week. That means we are going to see some stocks pinned higher and lower. Let me give you some interesting plays along these lines to use near-term calls as proxies." Cramer's 5 Plays could still be in play. They include Procter & Gamble(PG Quote) and Altria(MO Quote).