Cramer's Stop Trading! Not a Whisper from Tim (2/23/09)

Includes: CHL, PTR
by: Miriam Metzinger

Stocks discussed on Jim Cramer's Stop Trading! TV Program, Monday February 23.

AIG (NYSE:AIG), ChinaMobile (NYSE:CHL), PetroChina (NYSE:PTR)

Unanswered questions are destroying the markets, which are chaotic because of Treasury Secretary’s silence on crucial issues concerning the financial sector. “His recklessness is shocking,” Cramer said, and Geithner’s failure to act “will continue to be reflected in the averages.”

Meanwhile, it is no big surprise that AIG needs more money, and taxpayers will continue to support it for many years. Cramer called AIG the “biggest black hole in the financial system.”

China is succeeded where the U.S. is failing, said Cramer, who praised the country for its stimulus package that will “supercharge the economy” and the fact it has capital to deal with its problems. While China may be an engine, it doesn’t look like the U.S. is being pulled along. Cramer would consider buying China Mobile and PetroChina.

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