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Cramer’s 'Fallout Shelter Portfolio'

Ben Bernanke and the Fed don’t swoop in to save the day, there’s a basket of stocks every trader should have to ride out this volatile market, Cramer said.

Soft-goods companies usually do well in weakness. Theses the makers of anything found in supermarkets and drug stores. High-growth stocks work. So do healthcare and drug stocks, as well as those of oils and food and beverage firms.

Every panic is different, but for this recent downturn Cramer likes Celgene , Kellogg , Schlumberger , Medco and Kimberly-Clark . None of these stocks needs cash, they have growth no matter what and they’ll fetch great prices in an era of rapidly declining growth or a recession, he said.

Bottom Line: If investors believe in doom and gloom, they should consider CELG, K, SLB, MHS and KMB.

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  • Jim Cramer

    Jim Cramer is host of CNBC's "Mad Money" and co-anchor of the 9 a.m. ET hour of CNBC's "Squawk on the Street."

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