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 16% today on an apparent short squeeze.

So what: There wasn't any news out from the company today, but TheStreet.com highlighted China MediaExpress as "The Biggest Short Squeeze of 2011" in an article early this morning. And $125 million of the company's stock has been sold short.

Now what: Auditor Deloitte would agree with many investors who say the company's financials are just fine. The company has hit our "popped" list many times and certainly isn't a stock I would want to short right now. Be careful buying around short-squeeze days because price action can swing wildly in both directions. Long term, I do think this stock is a winner. I just hate buying on an up day like today.

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.

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 Motley Fool has a disclosure policy.