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 specialty retailer Charming Shoppes (Nasdaq: CHRS) added another 10% in intraday trading, which continued their charge upward despite any clear driver.

So what: Yesterday, I postulated that the jump in Charming Shoppes' shares was due to buyout hopes as talk of a deal swirled around companies such as OfficeMax (NYSE: OMX) and Avon Products (NYSE: AVP). Even though buyout speculation has continued today -- with pundits talking about the possibility of a takeout for retailers such as Aeropostale (NYSE: ARO) and Children's Place (Nasdaq: PLCE) -- the shares of those companies haven't seen anywhere near the action that Charming Shoppes' stock has.

Now what: Undoubtedly, the gains over the past few days -- which have put the stock up around 25% since last Friday -- are putting smiles on the faces of current owners. But without any news driving the gains, investors may want to temper their excitement. In fact, investors on the sidelines may want to wait until this hot potato cools back down before trying to handle it.

Interested in more info on Charming Shoppes? Add it to your watchlist by clicking here.

The Fool owns shares of Aeropostale. Try any of our Foolish newsletter services free for 30 days. True to its name, The Motley Fool is made up of a motley assortment of writers and analysts, each with a unique perspective; sometimes we agree, sometimes we disagree, but we all believe in the power of learning from each other through our Foolish community.

Fool contributor Matt Koppenheffer does not own shares of any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy assures you no Wookiees were harmed in the making of this article.