So many of you have asked us about our plans for the Fed, that I will play my hand open for you.

We get 50

basis points and we are fine. We can buy a lot of stuff or stay long what we have if nothing sells off. We can do that because the last two slow numbers that have been reported allow the

Fed to take the summer off after 50 basis points.

About an hour ago, someone was on the tube talking about how if the Fed only does 25 basis points the market will roar. We think that's wrong. If we get only 25 basis points, the Fed will be right back in our faces next month. We don't want that. We don't want that at all.

How about more than 50 basis points? No one is talking much about that possibility. That would startle people. Anything that would startle people is not good. We want people to be "not surprised." That's why we like 50-basis-point hike. It is a crowd-pleaser and -- like May 17,

1994 -- causes a rally in just about everything.

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in any stocks mentioned. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at

jjcletters@thestreet.com.