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: It's almost Halloween, and Monster Worldwide (NYSE: MWW) is handing out treats -- increased guidance for this year, and an earnings beat -- that have prompted a 23% spike in its stock price.

So What: Our 9.6% national unemployment has had investors running away from jobs-advertiser Monster. But rather than report frightening results, the company's now telling us all is well, and that this year's revenue could come in 8% higher than Wall Street had forecast.

Now What: Citigroup upgraded the shares in response to the news, for good reason. After buying HotJobs from Yahoo! (Nasdaq: YHOO), Monster now basically owns the Internet job advertising space. (At least until Google (Nasdaq: GOOG) or eBay (Nasdaq: EBAY) partner Craigslist decides to take it away from them.) Plus, Monster was doing just fine before buying HotJobs, which contributed a bare 3% to the company's 26% rise in quarterly revenue.

That said, Monster is still unprofitable, and it trades today for nearly 49 times free cash flow. If I owned the shares today, I'd be counting my good fortune, pocketing my profits -- and waiting for a better price to re-up.

Want to keep tabs on Monster? Add it to your watchlist.

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Fool contributor Rich Smith owns shares of Google. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.