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 cloud computing specialist NetSuite (NYSE: N) jumped more than 11% in intraday trading on heavy volume.

So what: Like a Tour de France biker drafting off of another racer, it seems that NetSuite may be getting a boost from fellow cloud-rider salesforce.com (NYSE: CRM). Today, salesforce announced third-quarter results that topped analysts' estimates and offered some market-pleasing guidance for next year. No doubt adding to NetSuite's pep today was a research report from brokerage Feltl and Company, which slapped a buy rating on NetSuite's shares.

Now what: Investing in stocks that have high valuation multiples is sort of like base jumping to me: There are plenty of people who think it's an exciting and worthwhile thing to do (and some of those people have done quite well with it), but it has always struck me as a bit too dangerous. Like salesforce.com, NetSuite's stock carries some sky-high valuation multiples that -- even though growth is expected to be robust -- I have trouble making sense of.

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