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 China MediaExpress (Nasdaq: CCME) jumped again today after the company announced three new contracts. This time, the stock was up 10%.

So what: The contracts will add 774 express buses to the company's growing lineup of buses, now exceeding 2,200 intercity buses in Henan province. The largest contract, consisting of 623 intercity buses in Henan province, is a five-year agreement while the others are shorter-term agreements.

Now what: China MediaExpress has been on a tear lately hitting our popped list six times since the start of November. Strong earnings, a low price-to-earnings ratio, and continued network expansion should help drive shares higher into 2011. I'm not going to stand in the way of a great growth/momentum story and would stay long on the stock heading into earnings season.

Interested in more info on China MediaExpress? 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 CAPS picks at TMFFlushDraw.

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