The Game Plan

Fed game plan? We've seen the run-up before the meeting, quick drive-by shooting after the statement, "swoon down and then return up" trade so many times that I suspect we'll eventually be faked out, but it sure looks like the game plan is on.

I hate this plan. It means that the shorts are covering then blowing out stock and then trying to buy stock, and the longs are going to say, "That's the last big, bad event going into Christmas, so let's rock!"

No matter what, I think the latter is going to be true. What's left after today? Morgan Stanley (MS - commentary - Cramer's Take) reporting? Maybe it is much worse than Goldman (GS - commentary - Cramer's Take). But isn't that "in" the name?

So I would wait for the quick swoon that is the shorts coloring the market after the Fed move -- whatever that is, and I hope it is what Tony says above with his unbelievably good Fed commentary (as always) -- and buy that dive, because that's it, we are on the road up without any more bad news between now and Santa.

Random musings: The Nasdaq/SOX move is, again, unstoppable. I would be a buyer of Cisco (CSCO - commentary - Cramer's Take) off it. Everyone is fretting about number cut. But the risk is a little like Eaton (ETN - commentary - Cramer's Take), which is, frankly, not much of a risk.

At the time of publication, Cramer was long Cisco, Eaton, Goldman Sachs and Morgan Stanley.

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Know what you own: Cramer mentions semiconductors. Companies in the industry include Texas Instruments (TXN - commentary - Cramer's Take), AMD (AMD - commentary - Cramer's Take) and Intel (INTC - commentary - Cramer's Take).

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