This earnings season has been peppered with stock declines that CNBC's Jim Cramer chalks up to small blips in companies' reports that make investors feel like they've lost momentum.
"That's why Caterpillar got clobbered — [management] described the past quarter as the high-water mark, even as the company raised its full-year earnings guidance by a couple of bucks," the "Mad Money" host said on Tuesday.
In each case, investors and analysts panicked that the industrial giants had delivered their "last good quarter[s]," Cramer said.
So, to see if the pullbacks in shares of Caterpillar, Boeing and United Technologies were justified, Cramer called on technician Bob Lang, the founder of ExplosiveOptions.net and one of the brains behind TheStreet.com's Trifecta Stocks newsletter.
"Lang believes the selling in these three former market darlings was premature, to say the least," Cramer said. "In his view, it's merely given you yet another fabulous buying opportunity. [...] Why does he like it? Because the numbers look good and the technicals look even better."