Real Money's Kevin Curran wrote that Costco's (COST) , which is Real Money's Stock of the Day, morning run here on Friday may have many wondering if they've missed a deal.

The Issaquah, Washington-based bulk retailer posted very strong earnings on Thursday evening to send its shares up around 4% at the open on Friday. Costco reported earnings for the three months that ended Feb. 17 came in at $2.01 per share, up nearly 27% from the like period a year ago and well ahead of the Street consensus forecast of $1.69 per share.

Jim Cramer said Thursday that he expected a good quarter from Costco, but that he didn't think that investors would particularly care. 

Here's why:

Because we're in that sell mode. And I'll give you an example why: Take a look at Walmart (WMT - Get Report) . Walmart was at $97 there. They put out unbelievable numbers. Unbelievably good. I think Walmart's doing incredibly well. And the stock jumped up $3 and now it's back at $97. So, what does that say about what Costco has to do?" Cramer said. "I mean, Walmart blew it out and the stock is where it is. So, what can cause good with this mindset? We need the worst," he continued. "We need the crescendo to see the Dow down like 400 points. We need the transports down like 200 points. We've got to make it so that we get to a level where...you don't fear sellers.

Alright, so with that recap, what does Cramer think now that the quarter has been announced?

"I didn't think that Costco was going to be as great as it was," Cramer said. 

"What I didn't judge for them--I incorrectly thought that the prevailing ethos yesterday--which was that Burlington was so bad...did not carry over. The Costco quarter was really fantastic. It should have moved Walmart. It should have moved Target (TGT - Get Report) , it should have moved Kohl's. So, in that sense, it's being ignored," Cramer explained.

Related. Analysts Still See Room to Cash In on Costco

Watch Jim Cramer's Daily NYSE Show and Replays Below