Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of office supplier Office Depot (NYSE: ODP) got a paper cut today and fell 10% after reporting earnings.

So what: Results just barely missed estimates, but its concern over a weak economy has made the move worse today. Third-quarter revenue of $2.84 billion was just $0.05 billion below estimates, and adjusted earnings were flat, a penny below estimates.

Now what: The results weren’t terrible, but is this really a space you want to be buying now? North American sales fell 4% for Office Depot, and the store's position in the value chain just isn't as strong as it used to be. I am a seller with long-term sights and think Office Depot has a long way to go for this Fool to give it thumbs-up.

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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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