TheStreet's Action Alerts PLUS co-portfolio manager Jim Cramer says Home Depot's first quarter results looked soft but much of that was due to the harsh winter weather which impacted all of the nation's retailers. But, Cramer says the current quarter is a "fulcrum quarter" for the nation's largest home improvement retailer. Cramer says now is the time when building and gardening gather steam and that Home Depot is doing a lot of things right. Cramer says he liked the theme of the conference call and the CEO's comments on housing. Cramer says he believes the housing market is still strong and that Home Depot, along with Nordstrom and Costco, are performing well.

More from Video

Your Need to Know - Forward Look

Your Need to Know - Forward Look

3 Things Investors Can Do to Stay Strategic When the Market's Volatile

3 Things Investors Can Do to Stay Strategic When the Market's Volatile

How to Be a Tactical Investor in the Current Market

How to Be a Tactical Investor in the Current Market

Canopy Growth CEO: Here's What the Future of Cannabis Looks Like for Investors

Canopy Growth CEO: Here's What the Future of Cannabis Looks Like for Investors

A Guide to Investing in the Fast-Emerging Cannabis Industry

A Guide to Investing in the Fast-Emerging Cannabis Industry