There are some days in the market when taking cues from stocks' movements can be detrimental, CNBC's Jim Cramer said Wednesday.
"I see stupid things happening all over the place, so I'm urging you not to jump to any conclusions based on the tape," the "Mad Money" host said. "Remember, the big money managers who control the day-to-day gyrations in stocks get things wrong all the time."
To their dismay, the home furnishings giant reported a sweeping earnings beat with dramatically higher-than-expected same-store sales growth, a key metric for the retail sector. Same-store comparisons came in at 7.9 percent year over year when analysts were expecting 5.8 percent.
As a result, shares of Home Depot popped roughly 2 percent on the news.
"Now, if you were just taking your cue from the action you would've decided that Home Depot had a terrible quarter," Cramer said. "Of course, Home Depot's stock got dinged again today thanks to the market-wide sell-off and the usual worries about what Amazon's going to do next now that it's devastated the supermarket space with its newfound price cuts. But home improvement is still very much Home Depot's wheelhouse. I think the stock's a buy."