JJC:    I've got something for you... I've got something... You've never heard of it. How would you like to own a stock that is geared to everything that is working in the stock market... everything!...

Would you like it even better, if the stock were radically - if not criminally - undervalued?... and mostly flying under the radar of Wall Street?... Do I have your attention?...

Now, how about this?... How about if the earnings estimates are way too low, setting the scene for repeated better-than-expected quarters...

Okay, I've got one for you that's better-than-expected... I think you can find all of this better-than-expected, cheap, criminally-undervalued notions in one security... and that security is...

Woodward Governor Co. (WGOV)!...

This one is up a solid 17.4% since I recommended it last year, July 16th... The S&P has come down 8.5% since then... and, yet... I knew it was good then, okay... but what I didn't realize, when I first profiled this for you, was how this company represents the new technology idea that I am going to harp on. I need to break the habits of those old Silicon Valley lovers...

My "new tech" companies are industrial manufacturers. These are the ones that are innovating... That's what "old tech" used to do... They used to innovate... they used to solve real problems. Not anymore...

These "new tech" companies create solutions to the problems of whole countries and companies around the world... solutions that are in global demand...

WGOV has "new tech" written all over it...

WGOV makes systems that are designed to improve the energy efficiency and emission control of gas and diesel engines, along with steam turbines and compressors, in its engines systems segment.

What is that about? Saving energy. In its turbine segment, it builds systems that are made to improve the energy efficiency and emission control of aircraft and industrial gas turbines...

These are the solutions we're looking for... You find these improved engines in commercial, regional and military aircraft. In fact, WGOV has got exposure to the Boeing 787 Dreamliner... Obviously, even with all that exposure, and with all the delays in the Dreamliner production, WGOV still managed to beat the Wall Street estimates... and it did it six straight times...

Can you imagine how much better it will do when the Dreamliner starts to ramp?...

Then there's the wind angle... And you know, on Mad Money, we love wind... We love it more than any other source of renewable energy, because it's the cheapest source... not just of renewable, but of all energy.

WGOV gets wind... The company has an electrical power systems segment, where it makes systems that are designed to improve power sensing and electronic controls of generator sets... and wind turbines! You know I think 2009 is the year of the wind... and WGOV has the jump on it...

WGOV has been a real forward thinker, in terms of wind. It bought SEG, a German designer and manufacturer of power generation products, including a lot of wind, all the way back in October of 2006...

This is the next one... WGOV's wind business has been on a tear! I was listening on the conference call... Management has said that it now thinks wind power could be a $100 million business by the end of the company's 2008 fiscal year. Previous forecasts were for $60 million... And, in fiscal 2007, it brought in $40 million...

This wind business looks like it's set to grow 150% a year... Do you think Cisco (CSCO)'s got that kind of growth? National Semiconductor (NSM)? Analog Devices (ADI)?... Western Digital (WDC)?...

This growth in wind, at WGOV, is completely fabulous... but I expect no less from any company with good wind exposure.

On the conference call, the company told us that wind was growing - are you ready - at "an exceptional pace." I think that's the understatement of the year. Now, WGOV seems to be doing its best to grow the wind business too. It added a major Chinese wind turbine manufacturer, and it announced plans to build a factory in Colorado, to make wind turbine inverters. The big slowdown in wind adoption, is that we don't have enough turbines. WGOV's got them.

Right now, as with most "new tech" stocks, WGOV is being treated like a cyclical stock... you know, the up, down... up, down... I think that's just wrong.

WGOV has its hands in every secular growth trend we like... meaning to me, that the numbers are way too low... Because I think even analysts who do cover the stock just don't get it...

How cheap?... How cheap is WGOV?...

It trades at 18x forward numbers... Wait a second... it doesn't add up... it doesn't add up... In the latest quarter, sales grew 19%... earnings were up 48%... The consensus long-term growth is 12%... Again, I think it's all based on the erroneous premise that this is a cyclical company...

I regard those numbers as next to useless... WGOV, it knows how to deliver. It's beaten the consensus for six quarters, right?... Never by less than 4 cents a share... This is a stock where I think both the price-to-earnings multiple, and the earnings are going up. Remember the equation I teach... Go into Real Money (see his book)... Remember, "M" times "E"... the multiple (i.e., the P/E) times the earnings equals the stock price... So, when both go up, the price should increase enormously...

I think it's conservative to assume that assume that WGOV will grow at 27.8%. If I'm right, that means we can assume, at the very least, that it should get a price-to-earnings multiple of around 27.8...

Okay, do the math... do the arithmetic... At that multiple, this $35 stock will become a $53 stock! A 51% gain... It could go much higher than that, if it beats the numbers... which I think it definitely will...

Now, the bottom line...