[jQuery] can i use .load to return HTML but not inject in to dom?

I don't know if this is possible or not but i would like to use
the .load method to return the contents of a file but not inject the
code in to the dom because i want to use .replaceWith
( returnedLoadData ).

here is what i have tried so far and i can return the data to e but
the return false isn't preventing the return data from being injected
in to #folders.

$('#folders').load("../"+myModule+"/"+navTitle+"/folders/
index.php", function(e){
console.log(e);
$('#folders').replaceWith(e);
return false;
});

does anyone know of a way to do this?