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 chemical products maker TPC Group (Nasdaq: TPCG) are up 10% today after the company announced preliminary results of its "Dutch auction" tender offer.

So what: The company will purchase 2,154,188 shares at a price of $28.50 costing $61.4 million in total. This represents nearly 12% of the total shares outstanding, coming on the heels of a quarter which saw revenue rise 47% and EBITDA jump 66%.

Now what: This is a fitting cap to 2010 given the run the stock has been on since closing last year at $7.75. Given the continuing fundamental momentum, relatively low price/earnings ratio of 14, and the lower share count, I'm not going to bet against TPC heading into 2011. The stock may not have quite the gains it did this year, but investors should still be happy with a solid gain.

Interested in more info on TPC Group? Add it to your watchlist.

Disclosure: 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 CAPS picks at TMFFlushDraw.

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