"Underdogs rule! Revenge of the beaten down! Role reversal!" These were just some of the phrases Jim Cramer used to describe the reversal of fortune Wall Street saw Wednesday on CNBC's "Mad Money."
U.S. stocks snapped a three-day losing streak, with the Dow Jones gained 58 points to close at 12,676, the Nasdaq was down 8 points at 2,854 and the S&P 500 dipped lower by just a fraction of a point to end at 1,337.
More specifically, though, Cramer was referring to a handful of formerly overlooked stocks who reported better-than-expected news today. As a result, "they can run further and faster than anyone thought possible."
Exhibit A: Boeing. Despite the negative talk fromAirbus about how aircraft orders were weakening and the aerospace cycle was over,
Next on the list of "losers now" who will later win" is Caterpillar. Shares of this big industrial player have been nothing short of horrendous, he said. Going into the session, the stock was down 10 percent due to slowing global growth, having run down from $116 to just $80. But CAT defied the odds when the