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Cramer Remix: The stock with the most momentum in the S&P or Nasdaq

Cramer Remix: Here’s the stock with the most momentum in the S&P or NASDAQ

Investors who, like Jim Cramer, think the Federal Reserve could hike interest rates next week should expect the stock market to get slammed.

"The thing about sell-offs is that the best stocks tend to go down the hardest. But, and this is a big but, they are also the first to come roaring back," the "Mad Money" host said.

To prepare investors, Cramer revealed his list of stocks to buy ahead of the Fed meeting. He chose these plays based on their ability to rebound after a rate hike. He noted that they are likely to bounce back the best because what prompted their success had nothing to do with the Fed. All of the plays are secular growth stories and have defied naysayers.

Cramer selected the winners by looking at a list of the best-performing stocks in the , Nasdaq and IPOs. Then, he removed players that were on the list due to takeovers, pure commodity stocks that rose because they were down so much going into the year and gold stocks that depend on low rates.

That left Cramer with three categories of stocks: Semiconductors connected to the internet of things and Apple, value stocks that did better than investors thought and companies that built a better mousetrap.

The hottest play on Cramer's list was NVIDIA, because it participates in both the internet of things and gaming chips. He also believes it has significant momentum.

"This one has the most momentum of any stock in the Nasdaq and the S&P 500," Cramer said.

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As Cramer always says, nobody ever made a dime panicking. That motto still applies, even if the Federal Reserve decides to raise rates next week.

If the Fed does take action, Cramer warned investors not to do anything dramatic. He recommended to protect with a little more cash, but not to dump stocks wholesale.

"I want to explain to you why I feel that we are facing a decline of moderate proportions, one worth riding through if you can stomach it, and nothing more than that. Only the super nimble need to take action," Cramer said.

Though Cramer does not want a rate hike, the market may still get one. While some Fed officials agree with Cramer, he fears that others may lean toward a hike because the U.S. is at "emergency low rates without an emergency."

Cramer drilled down his Fed worries to two issues: whether the Fed tightening matters at all to the economy and whether a quarter point rate hike is already baked into the market.

Cramer saw evidence that investors also worry about a rate hike based on the market's rebound on Monday. Investors who think a quarter-point rate hike will not have an effect confuse the real economy with the stock market, Cramer said.

"For stocks it doesn't matter what WILL happen to the real economy, it matters what people THINK will happen to the real economy," Cramer said.

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Another stock that Cramer eyed as a possible buy if the Fed takes action is Charles River Laboratories. Charles River is a research organization for pharma and biotech companies looking to discover new drugs and conduct early stage clinical trials.

Cramer often refers to Charles River as the "arms dealer to the drug industry" and expects companies to spend money on research and development, regardless of political concerns on drug pricing.

"Doesn't matter if the Fed tightens or the economy slows, if you are a pharma or biotech firm, you've got no future if you are not investing in R&D, and in many cases, that means giving money to Charles River," Cramer said.

Charles River reported a strong quarter in August, but has fallen 8 percent since Aug. 1 on no real news. Cramer spoke with the company's CEO and Chairman Jim Foster, who shared the company's advances to humanize mice. Meaning, it has created an animal model to be like a human avatar for the purpose of discovering how a drug is likely to work for humans via translational medicine.

"It's relatively early days, but I think these animal models will become increasingly more important and significant for drug discovery … helping the drug companies to determine whether to continue with a drug is better, or can be better with an animal model," Foster said.

Impinj is an IPO that hit the market at the end of July, and also landed on Cramer's Fed-induced sell-off playbook as a possible opportunity.

Impinj is a play on the internet of things, which is all about connectivity for everyday objects such as appliances, thermostats, and even shoes, among other things. Impinj's radio frequency identification technology provides intelligence to its customers, which refers to the unique identify and location of a product.

The stock has been on fire, as it came public at $14 in July and closed at $34 on Monday. And thanks to the strength of the internet of things, Cramer thinks it could have much more opportunity ahead.

"The stock has had a massive run since it came public in July, and that is why I want you to put this speculative name on your shopping list, and wait for Impinj to come down before you do any buying. Don't worry, I bet you will be able to get the chance in the next couple of weeks," Cramer said.

In the Lightning Round, Cramer gave his take on a few caller favorite stocks:

Advanced Micro Devices: "I think this pullback is an opportunity. They had to fix their balance sheet. That's good. I like their business, they're fine. I just think that once they put all that liquidity out there you have to wait a little bit. Don't expect it to bounce right back to $7 or $8 any time quickly."

GW Pharmaceuticals: "We are big fans of it because they have the actual pill of pure marijuana, none of that other stuff. But the problem is now it is up on a takeover spike, and maybe it gets one. Remember, that is a class one felony to do what they are doing in the United States, but they are over there in London. So, I say you know what, sell half. If you're just starting, I don't want you to give back that big gain."