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Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Wednesday January 2. Click on a stock ticker for more analysis:

Picks for 2008: Altria (NYSE:MO), Goldman Sachs (NYSE:GS), Halliburton (NYSE:HAL), Cisco (NASDAQ:CSCO), Amazon (NASDAQ:AMZN), Research in Motion (RIMM), Apple (NASDAQ:AAPL), Google (NASDAQ:GOOG), NYSE Euronext (NYSE:NYX), BioMarin (NASDAQ:BMRN), Rite Aid (NYSE:RAD), Level 3 Communications (NYSE:LVLT)

Cramer says 2008 will be the year for MO when it splits into global and domestic companies. Although he's liked GS consistently, Cramer says Goldman is a good stock in a bad neighborhood, and even though the Fed may come to the rescue this year, he can understand why an investor may want out of GS for the time being. Cramer has also been a fan of HAL, but he hinted at a new natural gas play he prefers and said he will unveil the mystery company on Thursday's program. Despite Cramer's past bullishness on CSCO, he thinks it will be a "marginal performer" in 2008 and says the four horsemen of tech (Google, Apple, RIMM and Amazon) will ride again. 2008 will finally be the year people recognize the greatness of NYX and realize it is "more of a play on Europe," Cramer said, and expressed confidence in CEO Duncan Niederauer. He commented on BMRN's good pipeline, but said he needs to wait and see a couple of quarters before blessing RAD again. Since video is proliferating on the internet, LVLT should see an upside and noted its CEO, James Crowe, has returned after an illness.

A Look Back at 2007: Yamana (NYSE:AUY), Savient Pharmaceuticals (SVNT)

While the first trading day of 2008 was less than impressive, Cramer urged viewers to look for the bull market, and added that gold is good (his favorite of the group is Yamana) as well as ethanol, oil and infrastructure. Cramer notes his picks last year beat the S&P and for value, he liked Halliburton, Goldman Sachs and Altria. For growth, Cramer picked Cisco, NYSE and Apple in 2007. Speculative picks included Savient Pharmaceuticals, Rite Aid, Biomarin and Level Three Communications. From his successes, Cramer learned to stay with winning stocks; "As long as Apple keeps growing at 30, I'm on board," he said. He added the worst stocks in a strong sector may be worth buying and boring stocks like Altria can "beat the averages handily."

When at First You Don't Succeed…

Cramer's failures included Rite Aid and LVLT, but he noted that both rose significantly before dropping; "when you have a gain in speculative stocks, you have to sell them," he said. Cramer also regretted buying stocks with balance sheets as bad as LVLT's and RAD's. From GS, Cramer learned that even the best stocks in a failing sector can get sucked down and NYSE taught him the painful lesson of not being a market contrarian. He added some stocks, like Apple, are worth paying more for, and resisted making broad, general predictions for the year ahead because the market is currently volatile. "Learn from my mistakes in 2007 and you'll do even better in 2008," Cramer said.

Mad Mail

When a viewer asked Cramer to define buying on a pullback, he replied 8-10% is the ideal range.

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Source: Jim Cramer's Mad Money In-Depth, 1/2/08: A Look Back, A Look Ahead