Cramer's 'Mad Money' Recap: A Supermarket Defense

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Market players must be prepared for a hard landing next week in case Federal Reserve Chairman Ben Bernanke keeps raising rates, Jim Cramer said on his "Mad Money" TV show Friday.

When we have the expectation that the Fed is going to raise rates, we must run to the supermarkets and drugstores, he said.

Cramer's rough-landing game plan includes three supermarket stocks:

• Hershey(HSY Quote)

• McCormick(MKC Quote)

• Kellogg(K Quote).

Hershey has a great management team, Cramer said. It may seem like a boring stock, but in terms of growth, it is among the best in its group, he said, adding that Kellogg was the most dependable of all.

It is still possible that Bernanke will pull us out of this tailspin, Cramer said, but if he keeps raising rates, these three stocks should work. In a recession, these stocks should go up, but if Bernanke starts cutting rates, these three stocks could start going down, that's why you have to do your homework, Cramer told his viewers.

Hershey, McCormick and Kellogg are defensive stocks that were among the best performers the last time the Fed raised rates too high, in 2000-02, he said. The game plan for this week is defense. These are the three best supermarket stocks to own in case of a Fed-induced disaster.

The next area to invest in at the moment is drugstores. "You don't stop taking your medicine or buying Band-Aids, even if the economy goes down," he said.

One thing you do want to make sure of is that the drug companies you invest in have product patents because patents allow you to sleep at night. These are four drug companies that Cramer likes:

• Schering-Plough(SGP Quote), which he owns for his Action Alerts PLUS charitable trust
• Novartis (NVS Quote)
• Sanofi-Aventis(SNY Quote)
• Johnson & Johnson(JNJ Quote)

Schering-Plough has a great management team, and they are starting from nothing, Cramer said. The first three companies he listed all have patent protection on drugs, and that prevents competition from generic-drug makers, he said.

While the first three companies are drug manufacturers, said Cramer, Johnson & Johnson is all about the Band-Aids and Neutrogena shampoo.

While Cramer gave a caller the thumbs up for Whole Foods Market(WFMI Quote), he told two separate callers to look away from Sirna Therapeutics (RNAI Quote) and Sepracor (SEPR Quote).