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 Compellent Technologies (NYSE: CML) rose more than 10% in intraday trading on no news whatsoever.

So what: Buyout speculation may have fueled the rally. Compellent provides networked storage technology, and in the wake of the 3PAR bidding war and Isilon Systems (Nasdaq: ISLN) positioning itself for an acquisition, speculative sharks are swimming in these waters.

Now what: Both Dell (Nasdaq: DELL) and EMC (NYSE: EMC) have the capital and needs to buy a company like Compellent. Trouble is, rumors come and go quickly, and buying on momentum can make for a dangerous bet. Proceed with caution.

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

Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Twitter as @milehighfool. You can also get his insights delivered directly to your RSS reader. The Motley Fool is also on Twitter as @TheMotleyFool. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Our disclosure policy is at least 10% better than other disclosure policies.