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Game Plan: What Will the Fed Do?

The Federal Reserve meeting next week is just too hard to analyze, Cramer said. For that reason, he took a pass on laying out a Game Plan like he usually does on Fridays.

Cramer's prediction is that the Fed will cut by half a point and the market will run, but it's too risky a bet for a hedge-fund manager, let alone a Mad Money Homegamer.

The best he can say is that if the Fed cuts by a quarter point, the market will still be awash in recession fears. Then defensive stocks like Avon , Pepsico , Coca-Cola , Clorox and Procter & Gamble should be bought. The strength of these stocks Friday shows that a lot of traders are already leaning in this direction.

If the Fed does cut that half percent, Cramer said he thinks industrials, tech, banks, retailers, even automobiles are sectors worth owning.

The problem is that this is all a big "if." It's too close to call. So while both Costco and Kroger report next week, and Cramer would normally recommend a trade on those quarters, the Fed meeting makes it too difficult.

Cramer's call: Homegamers should take a pass, too.

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