Cramer's 'Mad Money' Recap: Separating Fact From Fiction

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NEW YORK ( TheStreet) -- After last night's presidential debate, the markets were abuzz with ideas of how to profit from an Obama or Romney win.

That's why Jim Cramer offered his take on the event for his "Mad Money" viewers Thursday to help separate the facts from the fiction.

Cramer said while Mitt Romney supports North American energy independence, that's not a sign to buy the coal stocks. Coal's fate rests with Chinese demand, not U.S. demand.

He said the real beneficiaries would be utilities American Electric Power ( AEP) and Southern Company ( SO), which would likely spend less to update their coal-fired power plants under Romney.

Cramer also gave the nod to buy Union Pacific ( UNP), which is levered to cleaner coal.

In the aerospace and defense sector, Cramer said General Dynamic ( GD) would prosper under Romney, but its corporate jet division, Gulfstream, suffer under President Obama. The opposite is try for automaker Tesla ( TSLA), which would be no friend of Romney.

In the oil patch, Cramer said that Schlumberger ( SLB) and National Oilwell Varco ( NOV) would benefit from a Romney win, as would regional banks like Huntington Bancshares ( HBAN), US Bancorp ( USB) and KeyCorp ( KEY), a stock Cramer owns for his charitable trust, Action Alerts PLUS .

Under Romney, small business is likely to prosper, meaning a boost for Paychex ( PAYX), but dollar stores Dollar General ( DG) and Family Dollar ( FDO) may be hurt by a reduction in food stamps.

Everyone was trying to game health care, but Cramer said drug makers and HMOs have made peace with "Obamacare," and would actually be hurt if it was repealed this late in the game.

Cramer said no matter who wins the elections, investors should always buy stocks with strong fundamentals and never pay up.

Executive Decision

In the "Executive Decision" segment, Cramer spoke with Al Monaco, the new president and CEO of Enbridge ( ENB), one of the largest oil and liquids pipeline operators in the country. Shares of Enbridge are up 30% since Cramer last checked in with the company a year ago.

Cramer started off by asking Monaco about Mitt Romney's claims that investing in energy independence could create four million jobs. Monaco said that target is absolutely possible because there simply isn't enough connectivity between where the oil and gas in America is and where it needs to go.

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