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: Earlier today, shares of PowerWave Technologies (Nasdaq: PWAV) rose more than 12% to a new 52-week high of $2.12 a share after Chief Product and Development Officer Khurram Sheikh previewed comments to be made at the Futurecom trade show in Brazil this week.

So what: In a press release, Sheikh argued that PowerWave's "inside-out" strategy for delivering 4G broadband was best suited for high-performance indoor wireless environments, but extensible enough to also address outdoor networks.

Now what: Sheikh speaks Wednesday, and PowerWave plans to demonstrate the technology throughout the show. What's interesting is that PowerWave, like Clearwire (Nasdaq: CLWR) and Qualcomm (Nasdaq: QCOM), is hedging its bets by creating components for both LTE and WiMAX 4G wireless networking equipment. It's a smart, Switzerland-style bet that could pay off, presuming there's more to this "inside-out" strategy than a fancy presentation.

Interested in more info on PowerWave Technologies? Add it to your watchlist here by clicking here.