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Jim Cramer's 'Mad Money' Recap: What Was Bad Is Good Again

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NEW YORK (TheStreet) -- Everything the market hated yesterday it loved today, Jim Cramer told his Mad Money viewers Thursday as the market changed on a dime, reversing most of Wednesday's trends.

Today, growth is once again in fashion, as the successful IPO of the Chinese-based (JD) proved. Once JD's shares hit the tape, all of the growth names began to rally because Wall Street forgot why it hated them just a day ago.

That was evident with (CRM), Cramer continued. The company posted a strong quarter on Tuesday and saw its shares fall on Wednesday from $53 to $50 a share, despite much analyst praise. Today, Salesforce rallied 6%, sending its shares right back to $53 a share.

Today's strength in Salesforce sent other high-growth stocks higher. Stocks like Workday (WDAY) and Splunk (SPLK) came along for the ride, as did traditional growth names like Chipotle Mexican Grill (CMG).

The Wall Street fashion show used to have seasons, Cramer concluded, but lately those seasons have been reduced to just days. While investors may never be able to time the day-to-day mood of the markets, Cramer said longer-term investing still works and is why he still comes on TV every evening.

Executive Decision: Dan Welch

For his "Executive Decision" segment, Cramer spoke with Dan Welch, chairman, president and CEO of InterMune (ITMN), the orphan drug maker whose shares have rallied 168% year to date on the prospects of FDA approval for its drug Pirfenidone, which treats terminal lung disease.

Welch said the data surrounding Pirfenidone has been very compelling and the opinion leaders in their fields have been very excited for the drug to come to the U.S. Pirfenidone is currently available in Europe and has been seeing great success, with fewer deaths after a year of treatment.

Welch said that after a long 10-year journey, he's very hopeful Pirfenidone will be available in the U.S. for the first quarter of 2015. He said InterMune has already begun studies on using Pirfenidone for other indications and so far that research is also going very well.

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