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"You've heard enough people blab about Mr. Bernanke opening the screen-door window," said Jim Cramer on his "Mad Money" TV show Monday.

Cramer believes that the decision of the

Federal Reserve

to cut its discount interest rate to 5.75% saved the market from a 1,000-point decline. But in addition to helping an estimated 7 million homeowners, that action "helps your stocks go higher, and it will continue to help your stocks go higher," he said.

Calling Wall Street "a gigantic fashion show," Cramer explained that stocks regularly "come in and out of style." One area he foresees becoming "fashionable" is regional banks. These banks make money off the spread between "the short rates," the cash borrowed from the everyday customers -- the rate that Cramer expects to get cut -- and "the long rates," which is what they lend to home-buyers.

Cramer thinks the Fed's rate cut will make the difference. These banks will "go from making no money" beyond ATM fees to "making a huge amount of money" on "what they take from you and loan out to others."

Cramer's pick of the bunch was

KBW Regional Banking ETF

(KRE) - Get SPDR S&P Regional Banking ETF Report

. KBW has more than 50 holdings, and its five-year earnings growth is more than 9.4%.

It also carries a "weighted average market cap" of more than $2 billion with no mortgage problems foreseen.

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While Cramer also discussed

National City

(NCC)

and

Comerica

(CMA) - Get Comerica Incorporated Report

, 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) - Get eBay Inc. Report

." 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."

eBay took in 96% more revenue in advertising year over year from the second quarter, and Cramer foresees continual growth in that area. He believes the 2012 estimate of eBay earning 32 cents a share on advertising to be too low.

Beyond its advertising, eBay is diversified with other holdings. It owns Skype, which is available in 27 languages and is "growing at a fast clip." eBay acquired PayPal in 2002, which is a means of payment like

MasterCard

(MA) - Get Mastercard Inc. (MA) Report

, which Cramer told investors to look into, as it was "done going down."

Also controlling 25% of Craigslist, eBay has been "ramping up locals and classifieds." It is becoming a go-to source for placing small-time ads instead of community newspapers.

Cramer recommends eBay under $34. Like

Google

(GOOG) - Get Alphabet Inc. Class C Report

,

Garmin

(GRMN) - Get Garmin Ltd. (GRMN) Report

and

Research In Motion

(RIMM)

, eBay is a "long-term investment play" while also a "digitalization of commerce play."

Stand for United

Named as "too cheap to ignore," Cramer spotlighted

United Online

(UNTD)

. Recently paying out a dividend of 20 cents for the 10th consecutive quarter, United reaches more than 20% of the U.S. online adult population.

In addition to its role as a low-cost Internet provider, United is also in the "content business." Beyond owning Internet providers such as Juno and Netzero, it controls MyPoints.com and Classmates.com.

Cramer does not recommend buying into Classmates.com's forthcoming IPO, preferring "the parent company to the spinoff." However, he did say that the Web site has more than 2.7 million paying members.

Beyond its 6% yield, Cramer likes that United has more than $194 million in cash without any debt. As it recently cut costs in its dial-up operations -- keeping in mind that one-third of Americans still use dial-up for their Internet access -- Cramer called for "anywhere from $1 to $1.10" in EPS for next year.

Cramer told viewers to wait for United to come down to $14. If the price isn't right, "take a pass" or simply wait. Altogether, this is an investment that will please all kinds of investors because it's "one side for the cautious" and one side "for the risk."

Rolling on the Riverbed

Deeming technology "a way of being away" from the turbulent mortgage industry, Cramer told investors to keep an eye on the tech sector. Technology-related stocks did well during the "credit crunch" of 1990, and he believes that history will repeat itself for the better.

Recommending

Riverbed Technology

(RVBD)

, a top player in the field of worldwide data services, Cramer took a call from Jerry Kennelly, its chairman and CEO.

Cramer asked about the company's forthcoming Steelhead Mobile product, which is being extended to laptop technology. Kennelly said that because workers no longer just go to the office from 8 to 5 but rather work 24/7 around the world, he emphasized that with the product, users will be able to do "remote work at the same speed" as they do in their offices.

Predicting that there will be more than 543.1 million mobile office workers by 2009, Cramer called it a buy at under $40.

To view Cramer's interview with Jerry Kennelly, please click here.

Lightning Round

Cramer was bullish on

Under Armour

(UA) - Get Under Armour, Inc. Class C Report

,

Crocs

(CROX) - Get Crocs, Inc. Report

,

TheStreet Recommends

Texas Instruments

(TXN) - Get Texas Instruments Incorporated Report

,

Analog Devices

(ADI) - Get Analog Devices, Inc. Report

,

Intel

(INTC) - Get Intel Corporation (INTC) Report

,

Consolidated Edison

(ED) - Get Consolidated Edison, Inc. Report

,

Deere

(DE) - Get Deere & Company Report

,

Agrium

(AGU)

,

Monsanto

(MON)

,

Seaspan

(SSW) - Get Seaspan Corporation Report

,

Eagle Bulk Shipping

(EGLE) - Get Eagle Bulk Shipping Inc Report

,

General Maritime

(GMR)

Integrys Energy

(TEG)

,

NYSE Euronext

(NYX)

and

Air Products & Chemical

(APD) - Get Air Products and Chemicals, Inc. Report

.

Cramer was bearish on

Atmel

(ATML)

,

Hansen Natural

(HANS)

,

Terra Nitrogen

(TNH)

,

American Electric

(AEP) - Get American Electric Power Company, Inc. Report

,

Akamai

(AKAM) - Get Akamai Technologies, Inc. Report

and

GrafTech

(GTI)

.

For more of Cramer's insights during the Lightning Round, click here

.

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.

At the time of publication, Cramer was long NYSE Euronext.

Jim Cramer, host of the CNBC television program "Mad Money," is a Markets Commentator for TheStreet.com, Inc., and CNBC, and a director and co-founder of TheStreet.com. All opinions expressed by Mr. Cramer on "Mad Money" are his own and do not reflect the opinions of TheStreet.com or its affiliates, or CNBC, NBC UNIVERSAL or their parent company or affiliates. Mr. Cramer's opinions are based upon information he considers to be reliable, but neither TheStreet.com, nor CNBC, nor either of their affiliates and/or subsidiaries warrant its completeness or accuracy, and it should not be relied upon as such. Mr. Cramer's statements are based on his opinions at the time statements are made, and are subject to change without notice. No part of Mr. Cramer's compensation from CNBC or TheStreet.com is related to the specific opinions expressed by him on "Mad Money."

None of the information contained in "Mad Money" constitutes a recommendation by Mr. Cramer, TheStreet.com or CNBC that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. You must make your own independent decisions regarding any security, portfolio of securities, transaction, or investment strategy mentioned on the program. Mr. Cramer's past results are not necessarily indicative of future performance. Neither Mr. Cramer, nor TheStreet.com, nor CNBC guarantees any specific outcome or profit, and you should be aware of the real risk of loss in following any strategy or investments discussed on the program. The strategy or investments discussed may fluctuate in price or value and you may get back less than you invested. Before acting on any information contained in the program, you should consider whether it is suitable for your particular circumstances and strongly consider seeking advice from your own financial or investment adviser.

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