Cramer's 'Mad Money' Recap: No Deal = No Good

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NEW YORK ( TheStreet) -- Jim Cramer hates to talk politics, Washington and especially the fiscal cliff. To him, that's personal stuff.

But when it comes to helping you make money, he has no choice but to handicap whether there will be a deal and must rant on the fiscal cliff.

"Until we get a deal, it's bad news for the market, even for a cheap stock like Apple (AAPL) , said Cramer. Apple is a holding in Cramer's charitable trust, Action Alerts PLUS.

Cramer says he prefers for stocks to go higher. Without a fiscal cliff deal in Washington, stocks will go lower. He says the Apple sell-off is due to expectations of higher capital gains taxes next year so shareholders are selling before Dec. 31.

If the fiscal cliff issue is settled before then, Cramer says the Apple sell-off will subside.

"I was hoping Congress would be reasonable," Cramer said. "Compromise used to be American way."

Now, any form of fiscal cliff deal would be better than nothing, he said. "The fiscal cliff is moronic," Cramer said, it's being "done with a meat ax." Cramer would like to see the cliff issue resolved over time.

Cramer's not sure cutting all these government programs quickly is the way to get to higher stock prices. But "what would hurt the market most is if we get no deal at all," Cramer said.

Executive Decision

Cramer is looking for ways to immunize investors against that a bad economy. What better area than biotech?

ImmunoGen (IMGN) presented at the American Society of Hematology conference in Boston data on its next-generation cancer treatment that targets small-cell lung cancer.

The best part, said Cramer, is that not only is this treatment, IMGN 901, targeting lung cancer but it is wholly owned by the company and it will share no royalties on it, as it does with its TVM1 compound under an agreement with Roche.

So far the molecule, used in a compound with two other drugs, is showing "very good response," which is encouraging, said ImmunoGen CEO Daniel Junius. He said the company expects to have 11 cancer compounds in clinical trials by next June.

Junius said the focus right now is on the small-cell lung cancer, a "heinous disease." There are 30,000 new cases of this type of cancer every year, he said, and if the company is successful with IMGN 901 against this disease it could be extended to other types of diseases.

In the Pipeline

Cramer says Enbridge (ENB) is the kind of great, long-term, positive story he loves. He spoke with the pipeline operator's President and CEO Al Monaco about the $26 billion worth of fuel pipeline projects the company is working on in North America.