In a medium saucepan over medium-high heat, stir together the first six ingredients. Bring the mixture to a simmer, then continue cooking, stirring and mashing often, until the cranberries have popped open and the jam has thickened, about 10 minutes. Set the jam aside to cool.
Heat the broiler at the highest setting and position a rack in the top third of the oven. Slice the baguette crosswise into 1/3-inch-thick ovals and arrange them on two baking sheets. Broil the slices until golden brown on each side, about 2 minutes per side. (Or crisp the bread in a toaster oven.) Let the toasts cool.
Spread the toasts with goat cheese or top with thinly sliced cheddar and finish each with 1/2 teaspoon of the cranberry jam. Arrange the toasties on a platter and serve.