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: Silicon Image (Nasdaq: SIMG) dropped 12% in intraday trading today, after the company announced that it's participating in an investor conference today in New York.

So what: The CEO and CFO are representing Silicon Image at the Northland Capital Markets Growth Conference. These conferences for institutional investors typically include a presentation by company management and a series of private meetings between investors and management.

Now what: It is illegal for management to share any nonpublic information with these investors at the meetings, but investors typically scrutinize body language at these conferences and signs of confidence or discomfort can drive trading decisions. Today's weakness suggests that at least one shareholder is disappointed with the vibes management is giving off at the conference.

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Fool contributor Cindy Johnson does not own shares of any company named above. 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.