Cramer's 'Mad Money' Recap: Buy a Boring Bank ETF

While Cramer also discussed National City (NCC Quote) and Comerica (CMA Quote), he said to look at KBW as the safe pick. As "ETF" implies an exchange-traded mutual fund, investors will "spread the risk." They also position themselves to benefit should there be any takeovers of regional banks.

"If you can't get a good price, wait until it settles down," cautioned Cramer about a buy-in to KBW. We're buying a sector here, not best of breed," he said, adding that this may be the "best way to play the upcoming cycle of the Fed."

Add Up eBay

"I see a bargain in tech," said Cramer, "and that bargain is eBay (EBAY Quote)." While eBay is "not a buy right now," Cramer pointed out that the stock is trading at 21 times next year's estimated earnings.

With a "pristine balance sheet" and more than $3.6 billion cash on hand, Cramer said, eBay is widely undervalued. On the auction end, it has more than 100 million buyers and sellers worldwide. It is pushing to increase visitors and average sale prices alike, as it makes revenue from the latter.

But as analysts are "looking at eBay in the past," they tend to primarily focus on its auction listings. Cramer is choosing to look at the company differently, staying "one step ahead of the Street" and pointing out that eBay is "mostly about ads these days."