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 Indian IT services specialist Sify Technologies (Nasdaq: SIFY) surged 15% today on extraordinarily high volume.

So what: Sify shares have been on an absolute tear in recent months -- gaining about 160% since February -- and the momentum only seems to be getting stronger. In fact, this most recent pop, coming on volume at already more than four times its three-month average, marks the fourth consecutive day in which the shares have touched a new 52-week high.

Now what: Sify remains just too hot for most investors to touch. Fresh expansion plans, new partnerships, and exposure to high-growth India certainly deserve a bullish outlook, but it seems as though pure momentum is taking the stock over at this point. Sify's beta of 3.3 has helped its shares soar to great heights, but if the overall market slumps, it can sink the other way just as quickly.

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