Jim Cramer's Mad Money Lightning Round, 1/8/08: ICE Will Heat Up

by: Miriam Metzinger

Stocks discussed in the lightning round session of Jim Cramer’s Mad Money TV program, Tuesday January 8. Click on a stock ticker for more analysis:
Bullish calls:

Schering-Plough (SGP): 'people have gravitated more again toward true safety. They want conservative growth.'
Biogen Idec (NASDAQ:BIIB)
EMC Corp (EMC): 'I feel very strongly that EMC is a cheaper way to create VMW and you get the rest of the business.'
Intercontinental Exchange (NYSE:ICE): 'I reiterate that I like ICE. When we get through this period, that stock is going to scream right back... So ICE, I reiterate buy.'
Foster Wheeler (FWLT): 'I think it's a buy. I'm not going away, just because the market's going away.'
Sirius Satellite Radio Inc (NASDAQ:SIRI): 'But you're in the right one. You're in SIRI. The stock does nothing until the merger... nothing. So hold onto it. It's a nice lottery ticket.'
Deckers Outdoor Corp (NASDAQ:DECK): 'DECK is not cheap, but it has momentum. Let it come in if you want to buy some... or take a little profit, and buy it lower. This is a rough group, the plus-$100 stocks... when we have a market like this.'

Bearish calls:

E*TRADE (NASDAQ:ETFC): 'I think that ETFC has got a portfolio of home equity loans and mortgages that is probably the worst there is of any public company.'
Citigroup (NYSE:C): 'C is just ground zero for the pressure we're feeling right now... Can I say stick with it? No...'

Seeking Alpha publishes a summary of Jim Cramer's stock picks every day including: Mad Money Recap, Lightning Round, Stop Trading and Wall Street Confidential

Get Cramer's Picks by email -- it's free and takes only a few seconds to sign up.

Seeking Alpha is not affiliated with CNBC, Jim Cramer or TheStreet.com