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 specialty chemical maker Innospec (Nasdaq: IOSP) climbed 11% in intraday trading Monday on extraordinarily high volume.

So what: At the time of publication, nearly 400,000 shares of Innospec have already changed hands, versus its average volume of roughly 100,000 shares. It's tough to pinpoint what's driving today's heavy rally, but with the price of oil up yet again, now over $105 per barrel, investors might be swarming into Innospec as a potent fuel efficiency play.

Now what: I'd stay patiently on the sidelines at this point. Innospec shares are now up more than 170% over the past year and have returned as much as 25% since reporting impressive earnings just last month. While Innospec's growth prospects remain enticing to many Fools, I'd prefer to wait until Mr. Market is a little less excited about them.

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

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

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