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 Canadian oil and gas explorer TransGlobe Energy (Nasdaq: TGA) sank as low as 11% in intraday trading Tuesday, as Asian inflation fears weighed heavily on energy prices.  

So what: Today's global sell-off was sparked by South Korea's key interest rate increase, fueling speculation that China will follow suit in the next few days. Naturally, Mr. Market is worried that a Chinese rate hike would work to cool the country's growth, weaken its appetite for basic materials, and, in turn, hurt energy producers like TransGlobe Energy.

Now what: Even oil behemoths ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX), and Total (NYSE: TOT) are down more than 2% today on the growing global concerns. Of course, TransGlobe Energy shares have more than doubled over the past three months alone, so it's no surprise that they're taking a particularly tough beating. But for those oil bulls who have been patiently waiting for a TransGlobe Energy pullback, now might be your chance.

Interested in more info on TransGlobe Energy? Add it to your watchlist by clicking here.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

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