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 Encore Wire (Nasdaq: WIRE) jumped at the market open after the company released earnings.

So what: Sales increased 44.6% to $256.1 million, and the company posted earnings per share of $0.19 from a loss of $0.08 last year. Despite the better earnings, today's move was short-lived because demand for the stock dried up quickly after a big trade cleared at the market open.

Now what: A 7,500-share order cleared right at the opening, and demand dried up after that, leaving shares to fall back to earth. The earnings report was strong, but with a down market again today, investors have gotten skittish about bumping stocks higher without a blowout earnings report. I don't see any reason to sell today as earnings increase and the construction industry slowly but surely gets back to work.

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