Timken (TKR), another upside surpriser last week, has a ton of ball bearing-related wind business. Thomas & Betts (TNB)does too, but nobody's talking about it.

Thomas & Betts (TNB), also down 19%. Cramer said the poor performance of the Wind-ex stocks has nothing to do with the wind power business, but rather with the industrial components of all of the companies. He reminded viewers that as wind power accounts for larger portions of their earnings, the other divisions will account for less. He views the current weakness in the stocks as a valid pullback and a buying opportunity.

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Cramer then focused on the nacelle, the structure that houses a windmill's turbine. Here, he identified Woodward Governor (WGOV), Thomas & Betts (TNB) and Kaydon (KDN) as the companies to own for turbines, bearings and the other components found in the nacelle.

Suddenly side businesses in wind for Thomas & Betts (TNB) and Owens Corning (OC) and Trinity (TRN) are making more money than their real businesses, which then allows more money to be brought in to further reduce the costs of turbines, which then takes them from being peak-load alternatives to base-load alternatives. Things that didn't make sense now make sense. And stocks you wouldn't touch are now reasonable investments.

Cramer featured Thomas & Betts (TNB) as the next in his series of "new technology" stocks that manufactures the products the new economy needs. Cramer called the company another "stealth" wind power stock that investors need to consider.

Thomas & Betts (TNB) was downgraded to Market Perform, Friedman, Billings Ramsey said. $45 price target. Company gave soft guidance, that is very dependent on a strong second half of the year.

Stock owned thru company stock purchase on 401K program

Electrical Equipment

industrial low pe