Make room for

Foundry Networks

(FDRY)

! From the moment Foundry started trading, we knew that it would have to join the

Red Hots.

Cramer's Red Hots: Tell us what you think on our

Message Boards. You can't have some $8 billion behemoth that everyone knows is kicking tech butt not be in the index. But we have determined that the index should only have 20 players. That means somebody has to go.

Matt Jacobs

, the keeper of the index, who notes that it declined 3% last week -- a brutal period -- has given us a list of four Red Hots that are expendable. We thought that you should choose which one gets booted to make room for Foundry.

Here are the candidates for removal:

    Copper Mountain (CMTN) : Provides DSL solutions in a highly competitive space, although it seems to be winning business faster than the others. Extreme Networks (EXTR) - Get Report: This one is the most similar to Foundry in the Red Hots. Extreme makes complex networks that are simpler to use and manage. (Its market is technically known as Layer 3 switching solutions.) Net2Phone (NTOP) : Here's my choice for deletion simply because it is too promotional for my tastes, but boy does it have adherents. Net2Phone brings voice to the Internet. NTOP has an exclusive relationship with America Online (AOL) to be integrated into the Netscape Browser and UCQ Instant Messenger. Gadzoox (ZOOX) : Certainly not the fashion retailer. This company is in the fiber channel hub arena and competes with recent IPO Vixel (VIXL) . Both companies are trying to move into the fiber channel switch business which is currently dominated by Brocade (BRCD) .

What we will do is chat this one up on the boards for two days and then post a ballot, which will allow you to vote which stock you want deleted. Let's have some terrific discourse -- no name calling as I have seen on the Net2Phone boards on

Yahoo!

and

SI

-- and try to figure out which of these four Red Hots is too cool for the index.

Going to the Red Hot graveyard?

Extreme Networks

Net2Phone

Copper Mountain Networks

Gadzoox Networks

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was long Yahoo!, America Online, Vixel, Juniper Networks and Redback Networks. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at

jjcletters@thestreet.com.