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Recap of Jim Cramer’s comments on Stop Trading! Monday January 28. Click on a stock ticker for more analysis:

Honeywell (NYSE:HON), Caterpillar (NYSE:CAT), Parker-Hannifin (NYSE:PH), IBM (NYSE:IBM),Verizon (NYSE:VZ), AT & T (NYSE:T), Nokia (NYSE:NOK), Microsoft (NASDAQ:MSFT), Bank of America (NYSE:BAC), Wachovia (WB-OLD): Cramer does not believe that the U.S is in recession and pointed out HON, CAT and PH are rallying in expectation of more cuts. He also noted the KBW Bank Index and PHLX Housing Sector Index are also up. The problem lies not with stocks doing well, such as IBM, VZ, T, NOK and MSFT, but with the banks, he said and believes more cuts are needed to rescue financials; 'the losses that we saw for the quarterlies from a Bank of America or a Wachovia... I genuinely feel that we are too close to the precipice to stop.'

InterContintental Exchange Inc (NYSE:ICE) CME (NASDAQ:CME): On news of a possible merger between CME and ICE, Cramer said "What the heck is ICE doing down?" The stock dropped 30 points and lost much of its gain since Cramer initially recommended the stock. However, he would buy CME and ICE and thinks the stocks are being hit by temporary negativity.

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Source: Jim Cramer's Stop Trading! 1/28/08: Fed, Keep on Cutting!