Jim Cramer's 'Mad Money' Recap: Why Tonight's Debate Doesn't Really Matter - TheStreet

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With tonight's first presidential debate looming, investors are getting skittish, Jim Cramer told his Mad Money viewers Monday. Uncertainty always leads to selloffs, he continued, but it also creates bargains.

But while investors fret over every new poll and policy statement, Cramer said that, ultimately, the stock market doesn't care who is sitting in the Oval Office. The president simply doesn't have the power to create real change unless Congress is also on board, and it's unlikely that we'll have a Democrat president and majority in Congress this cycle. And even if Republican Donald Trump wins, it's not likely Congress will be totally on board then either.

What matters to the stock market is having policies that promote corporate profits, Cramer explained. Profits lead to job growth and buybacks and dividends, which it turn send stocks higher.

So why are so many CEOs seemingly backing Hillary Clinton? Cramer thinks it's because Hillary reaches out and is taking their calls, something President Obama has been reluctant to do over he past eight years and something CEOs aren't sure Trump will do if he gets elected. But here, too, there are caveats because most CEOs haven't said who they're supporting.

Cramer said his bottom line is to stay the course and watch for those bargains.

Executive Decision: Justin Gover

For his "Executive Decision" segment, Cramer spoke with Justin Gover, CEO of GW Pharmaceuticals (GWPH) - Get Report , a stock that surged 17% today on news of positive clinical trial data for a drug to treat pediatric epilepsy. Shares of GW Pharma are up 81.5% so far in 2016.

Gover said epilepsy is a complex disease to treat and patients in this study had tried on average 10 different drugs but were still having three seizures a day. Using GW's treatment, the frequency of those seizures dropped by 42%.

Gover explained cannabis, the focus of GW's research, contains a large number of different molecules that have the potential to be of medicinal value. GW has been researching the plant for 18 years and developing applications for pain, cancer, inflammatory diseases and most recently for diseases that affect the central nervous system.

Gover also added that unlike smoking cannabis, using the plant as a medicinal ingredient insures safety and control in manufacturing to verify dosages, all of which are principles of modern medicine.

Cramer called today's announcement an important breakthrough for patients in need.

Proving Naysayers Wrong

Shares of Apple (AAPL) - Get Report are up 26% from their May lows and Cramer said this core position Action Alerts PLUS has a lot more room to run thanks to the high-profile recall of Samsung's (SSNLF) flagship Galaxy Note 7.

After two quarters of declining iPhone sales earlier this year, many analysts felt that Apple's best days were behind it. But that all changed when Samsung, sensing an opportunity, tried to leapfrog Apple but moving up the launch of it's Note 7 and adding tons of new features.

That strategy proved to be flawed, however, as battery malfunctions led to several phones exploding or catching on fire. The subsequent recall has been disastrous for Samsung, Cramer noted, and has given users around the globe a real reason to switch to iPhone.

Making matters worse, many Samsung users are reporting that their replacement phones do not have the battery life of their original.

Cramer said Samsung was simply too ambitious with its new phone and now is paying a hefty price as its brand is suffering immensely. Meanwhile, Apple is seeing strong demand for its iPhone, which should continue into the holiday season.

Executive Decision: Joe Hogan

In his second "Executive Decision" segment, Cramer spoke with with Joe Hogan, president and CEO of Align Technology (ALGN) - Get Report , makers of InvisAlign orthodontic products. Shares of Align are up 41% in 2016.

Hogan said Align's growth stems from both expanding their footprint overseas and having deeper penetration of products here at home. He said 75% of orthodontic cases in the U.S. are for teens, while Align has traditionally focused its products on adults.

Compared to traditional braces, which glue metal directly to your teeth, Align's removable plastic inserts offer many advantages, Hogan said, and 50% to 60% of all orthodontic cases can use Align's products.

When asked why penetration is not higher, Hogan explained Align is essentially the digitization of an analog process and more education is needed to make dentists more comfortable with the technology.

Cramer said Align is yet another example of a non-economically sensitive stock that can be bought on fears of the election or of rising interest rates.

Lightning Round

In the Lightning Round, Cramer was bullish on International Flavors and Fragrances (IFF) - Get Report , Dunkin Brands (DNKN) - Get Report , Berry Plastics (BERY) - Get Report , International Paper (IP) - Get Report and Applied Materials (AMAT) - Get Report .

Cramer was bearish on Ensco International (ESV) , Bank of New York Mellon (BK) - Get Report and Nordic American Tanker (NAT) - Get Report .

No Huddle Offense

In his "No Huddle Offense" segment, Cramer reiterated that when the market gets jittery over uncertain events, like the election, investors need to circle back to growth stocks that represent good value.

Cramer said Amazon.com (AMZN) - Get Report fits that bill, as does FedEx (FDX) - Get Report , which had a great quarter. He remains a fan of Foot Locker (FL) - Get Report in the retail space as well as Acacia Communications (ACIA) - Get Report in telco equipment.

This is why you keep money on the sidelines, Cramer concluded. Days like today are when you put that money to work.

To watch replays of Cramer's video segments, visit the Mad Money page on CNBC.

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At the time of publication, Cramer's Action Alerts PLUS had a position in AAPL.