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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 (SBUX) will sound the "all clear," he said.Beyond Starbucks, Cramer said he'd consider buying some Google (GOOG), since countless analysts still have $1,000 price targets on the company. Boeing (BA), General Electric (GE) and Amazon.com (AMZN) should also be on the buy list. Cramer said he also likes the financials, with names like Visa (V), MasterCard (MA) and American Express (AXP). 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.