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Stocks discussed on the Lightning Round session of Jim Cramer's Mad Money TV Program, Monday October 29.

Bullish Calls:

Norfolk Southern (NYSE:NSC), Union Pacific (NYSE:UNP): "(If you think Romney is going to win the election) I'm going to give you Norfolk Southern. It has been trying to bottom here, and has a decent yield. If you think the President will be re-elected, you go with UNP. It has held up the best and has a dynamite chart."

Gilead (NASDAQ:GILD), Celgene (NASDAQ:CELG), Biogen (NASDAQ:BIIB): "Buy Gilead. It may be the strongest in the group, with Celgene coming in second. Biogen had a good quarter too."

ConocoPhillips (NYSE:COP): "... I'm looking for yield, so I'll go with Conoco."

Centurylink (NYSE:CTL): "Centurylink is better (than Windstream)."

Phillips 66 (NYSE:PSX): "The stock ran last week. I like the refiners, because we will get a situation that there will be so much oil in the middle of the country that these companies will make money, but it would be irresponsible for me to tell you to buy a stock that has run this much. Wait for it to pull back a couple of points and then pull the trigger."

Bearish Calls:

Hewlett-Packard (NYSE:HPQ): "I'm not bottom fishing in that. Sell, sell, sell."

Darden Restaurants (NYSE:DRI): "Here's the problem. The stock had a big run. It has a good yield, but it did nothing. You wait until it gets to $50."

InterOil (NYSE:IOC): "The company is a wild card, and the oil companies have been bad lately (Cramer recommended ConocoPhillips instead)."

Windstream (NASDAQ:WIN): "Windstream has a more challenged business model."

Nuance Communications (NASDAQ:NUAN): "I've been suspicious and wary of voice technology stocks."
United States Oil Fund (NYSEARCA:USO): "We are not going to buy these types of ETFs. I need you in an oil and gas company. Try Conoco."

Alexion Pharmaceuticals (NASDAQ:ALXN): "People decided to move away from this one, because it went up too high, and people are rotating into Gilead."

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Source: Cramer's Lightning Round - Which Rail Will Win The Election? (10/29/12)