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Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Monday December 3. Click on a stock ticker for more analysis:

Give a Stock: Viacom (VIA-B), Activision (NASDAQ:ATVI) Parents stumped for gift ideas should consider buying their kids one share of a good stock like Viacom, said Cramer. The company is a buy in its own right and has been cheap since it split off from CBS. Viacom puts out the Rock Band video game which Cramer thinks is superior to Activision's Guitar Hero. Rock Band is selling out consistently and charges for downloading music.

Perfect World (NASDAQ:PWRD) Indeed

Related:Zachary Scheidt:"Short/Long Term Disconnect a Boon for Perfect World Shares."

Cramer admitted he should have said PWRD was a buy rather than a sell on last week's Lightning Round. He admits to being uneasy about Chinese stocks because of the lack of securities regulation, but notes PWRD is a world apart because it files its information, and recently surpassed earnings expectations by 81% and sales estimates by 43%. Vivendi's proposal to buy Activision means PWRD also could be a takeover target, and PWRD should see a successful launch of its Chi Bi game later this month. However, Cramer stressed PWRD is purely a speculative play and could go lower. He expects it to rise to $40, but would not buy this $24.33 stock higher than $26.

Betting on the Fed: Colgate (NYSE:CL), Wells Fargo (NYSE:WFC)

While Cramer believes the financials have bottomed, this bottom could be put to the test in the near future. He suggests only buying financials on the potential of a Fed cut on December 11. Otherwise, the best move would be to buy defensive stocks; "Right now you should buy the Colgates of the world if you think I am dead wrong [about the rate cut.]" In the meantime, there will be a lot of bearish news prior to the Fed announcement; "You'll be lucky if between now and next week you see one or two things that make you think the market is worth sticking around in." He predicts even strong financials like Wells Fargo (WFC) will be battered by negative talk. However, Cramer urged his viewers to stick with the long-term view and withstand the temporary bear raid.

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Source: Jim Cramer's Mad Money In-Depth, 12/3/07: Perfect World Indeed