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 optical networking gear maker Ciena (Nasdaq: CIEN) jumped 14.4% in early trading, surpassing the average daily volume about an hour after the opening bell.

So what: Ciena doesn't report earnings until early March, but fellow optical networker JDS Uniphase (Nasdaq: JDSU) blew the lid off its second-quarter report last night. The entire fiber-optics industry is coming along on a market joyride today.

Now what: Citing the dual growth drivers of video and mobile data services, JDSU just reignited a fiber-optics market that never really cooled down. Ciena's shares have now doubled over the last 12 months while JDSU gained 174% and Finisar (Nasdaq: FNSR) jumped even higher to a 277% gain. High-growth investors should keep a close eye on this red-hot market, particularly since Cisco Systems (Nasdaq: CSCO) predicts continued exponential growth in bandwidth demands until at least 2015.

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