Jim Cramer's Mad Money Lightning Round Picks, Oct. 17

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Includes: AMN, ARNA, CHS, CLE, CNXT-RETIRED, GS, IAC, LVLT, NSC, SIRI, VG
by: Miriam Metzinger

Miriam Metzinger submits: Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Monday October 16. Click on a stock ticker for more analysis:

Bullish calls:

Level 3 Communications (NASDAQ:LVLT): 'From my 9/13/06 recommendation, this stock is up a little more than 30%. It's at $6.02. Take a little profit ... let the rest run.'
Goldman Sachs (NYSE:GS): 'that stock is down 2 quick smackers ... GS is going to $225. I want you to do a 'mon-back down $2.'
Norfolk Southern (NYSE:NSC): 'NSC as the cheapest in the group! ...Two thumbs up. I'm not worried about a recession; that one's off the table.'
Claire's Stores (CLE): 'Not an expensive stock. 12% growth, 14x earnings in a group that I like very much. 3 points from its 52-week low.'
IAC InterActiveCorp (IACI): 'Two thumbs up, way up. They've got their act together.'
AMN Healthcare Services (AHS): 'I would hold the rest of it. That's a good stock; 52-week high. We recommended it lower. The stocks going to $27, $28. I would stick with it.'
Arena Pharmaceuticals (NASDAQ:ARNA): 'I think ARNA is going right to $22, $23. This is the best spec that I have.'

Bearish calls:

Sirius Satellite Radio (NASDAQ:SIRI): 'I have been saying over and over again that we could get a $7 stock, but the following has to happen: [merging with XM Satellite Radio] ... but it hasn't happened yet. And, until it happens, you are... paddles, clear. Nothing.'
Conexant Systems (NASDAQ:CNXT-RETIRED): 'My friends at CNXT need to do a restructuring; need to do a refinancing. There's some debt that comes due in February. Until they do the refinancing, you've got dead money. Another flatliner.'
Vonage Holdings (NYSE:VG): 'VG has stabilized here at $7. But, I've got to tell you... there's 6,000 publicly traded stocks, and there's 5,999 I like more than that stock.'
InterMune (NASDAQ:ITMN): 'We just had a gigantic move in that stock. When I see gigantic moves off these biotech stocks, I'm strictly a register ringer.'
Chico's (NYSE:CHS): 'I cannot call a bottom yet...'

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