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 Chinese IT services specialist Camelot Information Systems (NYSE: CIS) popped 10% in intraday trading Monday on heavy volume.

So what: Today's double-digit surge, which comes on nearly triple the average volume, represents an all-time high for Camelot's shares. Camelot only went public in July at roughly $11 per share, but the stock has managed to climb more than 90% in that short period of time.

Now what: I'd be hesitant about buying into Camelot at this point. Although analysts expect Camelot to grow profits at about 20% in each of the next five years, I can't help but feel nervous about its smoking-hot stock price, 50-ish P/E, and, of course, its status as a Chinese small cap. When it comes to the IT services space, tried-and-true global giants such as IBM (NYSE: IBM) and Accenture (NYSE: ACN) just seem like safer places for my money.

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Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Accenture is a Motley Fool Inside Value choice. The Fool owns shares of IBM. Try any of our Foolish newsletter services free for 30 days. 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 Fool's disclosure policy always gets a perfect score.