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.
So what: Today could be more of a trading phenomenon as Quantum breaks through its 52-week high on nearly double its normal volume, but the company did announce a presentation next week. At the conference, Ariba will address "the challenge of delivering higher service" and lowering costs using Quantum deduplication appliances.
Now what: Quantum certainly has momentum on its side, but I would prefer to wait for some more substance before jumping into shares. Considering the bounce in the market today, there may be a better entrance point if the market and Quantum pull back over the next few days. I may miss out on a momentum move, but I just can't buy on a day like this with nothing but a technical breakthrough driving the stock.
Interested in more info on Quantum? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his Motley Fool CAPS picks at TMFFlushDraw.
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