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 health-care staffing specialist Team Health Holdings (NYSE: TMH) surged 10% in intraday trading Wednesday on higher than average volume.

So what: At the time of publication, investors had already traded more than 82,000 of Team Health shares, compared to the average volume of about 78,000 shares. It's tough to peg exactly what's fueling today's heavy rally, but with Team Health now up more than 25% since posting solid numbers in November, sheer momentum seems to be at least one of the strong forces at play.

Now what: I'd wait for a big pullback before buying into Team Health. Although management has made steady progress in improving the balance sheet, its net debt position of about $428 million is still cause for some concern. And with Team Health currently trading at a P/E premium to rivals like Emergency Medical Services (NYSE: EMS) and MEDNAX (NYSE: MD), the risks might not be worth it at this point.

Interested in more info on Team Health? Add it to your watchlist.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

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