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 wireless networking hardware maker Powerwave Technologies (Nasdaq: PWAV) are getting a strong signal today, trading as much as 13.6% higher on rather ordinary volume.

So what: Powerwave has no news to support this move, no earnings report, no analyst rating changes, nor even any significant news from its very limited range of direct rivals. It's just one of those inexplicable moves.

Now what: I'm even hesitant to point to some large buyer taking or expanding a position in Powerwave, because the volume is so low and options trading nearly zero today. Maybe the company was mentioned in a positive light on CNBC or Bloomberg TV, but that idea is difficult to confirm or disprove. What you really need to know is that the stock has more than tripled over the last year, but Powerwave's financial statements are far from soothing bedtime reading. Is this stock setting itself up for a fall?

Interested in more info on Powerwave Technologies? Add it to your watchlist.

Fool contributor Anders Bylund holds no position in any of the companies discussed here. 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 is investors writing for investors.