A Momentum Play for the Internet

So Cramer already established that Google isn’t worth owning right now. There’s no momentum behind it. Until the stock dips to $440, he’s staying out of it. But there’s a chance to make some money in eBay as investors wait for Google to recover its upward momentum.

Make no mistake: Yahoo! , IAC/InterActive and eBay don’t come close to Google in terms of fundamentals. But when you’re dealing with the market, there can be more important things than the fundies. And unlike Google, eBay isn’t being held back by jaded momentum traders who bail on any stock with decelerating revenue growth.

Here are Cramer’s seven reasons why eBay is his favorite internet stock:

1. eBay has become part of the culture. The obsessive eBayer is going from a stock character in bad sitcoms to an actual person. These people buy everything from dirt bikes to vintage clothes on eBay. They live for the site.

2. Skype. Granted, it has been an underperformer. But the internet phone service is finally gaining traction with eBayers. All the negatives from the deal are priced in the stock, but the positives aren’t yet. Good time to buy.

3. Acquisitions. eBay bought Stubhub, a classic move for an auction house like eBay because that’s what Stubhub does with tickets.

4. The company has an improved search engine coming and revenue-sharing deals with Google and Yahoo!.

5. International growth is running at a 40% clip. We love that here on "Mad Money."

6. eBay owns PayPal, the Visa, Mastercard and American Express of the internet. PayPal is the one area where a company is actually beating Google – and that tells you how strong the business must be.

7. eBay is still pretty much a monopoly, and it has the most potential for revenue acceleration.

Bottom line: If you could only own one internet stock right now, the stock you want is eBay.

Questions? Comments? madmoney@cnbc.com