JJC:    Every good law-abiding citizen of Cramerica knows that our favorite source of renewable energy... the one that's the cheapest... the one that's been making companies money right now... is the mighty wind!... Wind power... yes, wind power...

It may be the best form of renewable energy... something we have to care about, even if oil is down $3 bucks from $130 (cost per barrel)...

Wind... 4 cents a kilowatt... cheaper by half than the next alternative... clean as a whistle, even if it does whistle pretty loudly... So great, in fact, that I've declared 2009 the year of wind! Just like 2008 is indeed turning out to be the year of natural gas... But, unlike natural gas, where we've got so many (stock plays)... where we've got the Apache Corp. (APA)... where we've got the Anadarko Petroleum (APC)... we've got the Chesapeake Energy Corp. (CHK), we've got the Southwestern Energy Co. (SWN)... No. There are very, very few pure wind plays...

So, we have to get creative, and find companies where the wind business is hidden inside of something else... stealth wind plays, if you will...

Today, we've got one of the great stealth plays left in my universe... Actually, it's the last one I have left...

The last great wind play in my series on wind is... Are you ready, skee-daddy?...

Kaydon Corporation (KDN)!

On the face of it, KDN is boring manufacturing, okay... It manufactures bearings... anti-friction bearings, split-roller bearings... along with shock absorbers, gas springs, rotary dampers, engine rings, filtration systems...

Yeah, you're yawning about these systems, right... unless you're a "new tech" aficionado... like Cramer, who recognizes the value of bearings that reduce friction... When you reduce friction, you increase efficiency for the manufacturers who are actually trying to solve the world's problems, and making money doing it... Real world problems!...

In that case, anti-friction bearings shouldn't be putting you to sleep... No... I don't want to hear this, when I hear anti-friction bearings (sound of a heart monitor, going flat-line)... I want to hear this (all aboard! sound)... Just in case you conked out when I was talking about bearings, let me give you a little wake-up call...

KDN is the market leader for wind power bearings... It's got 50% market share...

I bet you never even thought about a wind bearings play but, wherever there's motion... bearings will be there. And, when that motion comes from the turning of a windmill, KDN's the company to go to...

In 2007, KDN's wind-related sales came to $35 million. I know, I know... Only 8% of the company's total revenues last year... But, by 2009, wind is expected to grow to 20% of KDN's sales... that's $108.2 million in two years...

In two years, KDN's wind business is expected to triple... Can you believe that? We've got to get in ahead of that, don't we?... And this is based on a bunch of what I think are low-ball sales estimates that I am pretty sure the company can easily exceed.

Already, wind makes up almost half of KDN's $320 million backlog... That's terrific.

Now, because KDN had been investing in, and expanding, its wind capacity, its margins had been held back. It's not making as much money as it should yet. I think that overhang should be lifted, as the volume of wind sales picks up... and we know that's the case... because the single-biggest issue with wind is we don't have enough turbines!...

KDN reminds me of Trinity Industries Inc. (TRN), another stealth wind stock...

TRN makes railcars... Nobody cared about its wind tower business... until we mentioned it on the show, and then, a week later, it blew away earnings, thanks to its wind division... The stock has yet to look back from when we liked it...

Then we had Owens Corning (OC)...

Another one that hasn't looked back, reminiscent of KDN... a company that everyone thinks of as an insulation play levered to housing... I would look at it as an emergent wind play, as it makes the heavy-duty flexible composite materials needed for new windmills that have wingspans often as large as a Boeing 747... and need the sturdy materials only OC can provide, in order to capture wind energy... You have no idea how hot these windmills can get. You need special fibers.

Or how about Thomas & Betts (TNB)?... A lot of wind-related hardware there... And Emerson (EMR), a classic "new tech" play, which makes the components for the turbines, among others, including Siemens (SI) and General Electric (GE), parent company of this network... You split open a turbine... out tumbles EMR... And don't forget Woodward Governor (WGOV)... kindred to EMR... but back to the stock at hand...

While we wait for KDN's wind business to pick up - and I don't think we'll be waiting very long, frankly - I don't think we have the worry about the rest of the company. It's selling bearings and other friction and velocity control products... "new tech"... with some great end markets.

At KDN, 50% of sales are coming from automation... heavy industrial mobile equipment, defense, aerospace, power generation... This company's making the nuts and bolts of all that "new tech" needs, that I've talked about endlessly on this show, and will continue to do so...

This company's exposure to residential construction and autos in North America is less than 10%, so you don't have to worry... you don't have to sweat...

I mean, you've got to contrast that with another company I really like, but I have not recommended... That's ball bearing maker, Timken (TKR), which has a good wind business, but way too much automotive exposure for my taste.

KDN... shareholder friendly... a buyback of epic proportions... 4.1 million shares are left in its repurchase authorization... That comes to around 14.8% of the company's total shares...

I think one of the reasons why the stock has hung in there - it's only a point below its 52-week high - is that it's been bolstering the stock, and its boisterous buyback... but also because, while it looks expensive, I think it can go much higher...

It's only trading at 19x expected earnings. Oh... 19x... You think that's high? No. Remember, it's versus growth rate... and it's got 14.5% long-term growth rate... And I think these earnings numbers are low. I don't think they take into account just how strong wind will be for KDN.

The analysts that are covering... they're all kind of from these obscure firms and I've got to tell you something... As soon as wind catches their attention, I think the stock's in for one wild ride higher...