Cramer’s Mad Money Wind Index

On Wednesday, Cramer unveiled what he’s calling the Mad Money Wind Index, or Windex. It’s a basket of 11 stocks that operate in his new favorite alternative-energy business, one he said could meet 30% of the U.S.’s demand by 2040.

Just to be clear, Cramer isn’t recommending any of these stocks. He’s just putting together the Windex as a gauge for what he calls a major up and coming trend.

All of Cramer’s previous calls on wind power made the cut: Trinity , Otter Tail , Owens-Corning , Woodward Governor , MasTec , Thomas & Betts and Kaydon . These stocks have beaten the S&P 500 by an average of 9.7% since he picked each one.

But there are four other names, most likely new to Mad Money viewers, that Cramer’s using to round out the Windex.

Ameron deals mainly in water pipeline systems but also has a wind-tower manufacturing business that could double in size this year.

The three other stocks all trade over the counter here in the States. Vestas, the largest play on the global wind market, Cramer called it, that makes wind turbines and towers; Broadwind Energy, a wind-farm construction and infrastructure play that also makes wind tower; and Clipper Wind Power, a turbine manufacturer based in the United Kingdom.

The catalyst here is the Wind Power 2008 conference in Houston during the first week of June. Eight out of the 11 Mad Money Windex stocks will be there. Cramer’s expecting the meeting to drive more interest in wind power and bring some publicity to the growing business these companies are doing in the sector.

Again, these aren't recommendations. Think of this group as a sector snapshot that will inform investors of the growth, or lack thereof, in wind power.

Besides, if you ran out and bought all these stocks you'd be breaking the first rule of Cramerica: diversification. Don't be that guy.

Questions for Cramer?

Questions, comments, suggestions for the Mad Money website?