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 SouFun Holdings (NYSE: SFUN) were no fun today, falling 14%.

So what: The news wires are quiet, and the company hasn't filed anything with the Securities and Exchange Commission since May, but the stock started falling as trading picked up today. Volume isn't outrageous at 1.5 times the three-month average, but around noon ET, volume picked up and shares started sinking.

Now what: Traders may have gotten a hold of this stock today, but it doesn't look like a move driven by fundamentals. I'd be cautious of this move, because some sort of information may have leaked into the wrong hands. Plus, I'm always wary of any wild move in a Chinese small cap.

Interested in more info on SouFun? Add it to your watchlist.