The shock and awe of the financial market meltdown is just beginning according to CNBC star Jim Cramer.

Cramer on CNBC's Sept. 29 "Mad Money" cautioned viewers about the current market. His advice - do nothing because there's more pain to come if no rescue plan makes it out of Congress. As he put it: "sit on your hands."

"Only those stocks that are sure enough to pull the trigger on until we get to Dow 8,200 ... I said if the plan failed - only those you should be looking at - looking at," Cramer said. "Today's 777-point drop was just the beginning. Now is not the time to put your money at risk, it's the time to protect your nest egg."

Cramer recommended only stocks of companies that didn't need to borrow money in an environment with tough credit and sold products that would still be in demand during a bad economy - a very narrow spectrum of stocks. Otherwise, he told viewers to put their money in FDIC-insured banking accounts.