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 Chinese electric motor maker Harbin Electric (Nasdaq: HRBN) sank as much as 10% today, after yet another blog post sparked fresh fears over the company's accounting practices.

So what: The stock has been hammered by several reports suggesting that its proposal to go private is a long shot, its financials are fudged, and that CEO Yang Tianfu has a long history of making fraudulent loan documents, so today's post in Seeking Alpha isn't saying a whole lot new. In fact, Tianfu promptly responded to the blog by saying that Harbin "fully expected that die-hard short sellers would continue to try and create opportunities to make money ... as we get closer to the expected completion of the pending going private transaction." He added,"I am happy to reiterate emphatically that we stand by the accuracy of our filings with the SEC."

Now what: Unless you absolutely crave volatility, Harbin is an easy stock to stay away from. The shares still trade well below the proposed buyout price of $24, so plenty of skepticism remains among investors over whether the deal will actually go through. Both the "Company Honest" and "Company Dishonest" camps make some pretty compelling arguments. I'd rather sit back, grab some popcorn, and watch how it all plays out safely from the sidelines.

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