for /f "tokens=* delims= " %%A in ("TEXT") do (
CODE
)
each word will be represented by %%A , %%B , %%C , %%D ...
OR
you can use:
for %%A in (TEXT) do (
CODE
)
it will then run the code for each word, using %%A as the variable.
EDIT:
If you plan on altering any veriables within the for loop, you need to use 'setlocal EnableDelayedExpansion' and refer to them as !var! instead of %var%.