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 liquefied natural gas (LNG) company Golar LNG (Nasdaq: GLNG) climbed 13% in intraday trading Wednesday on news that it is spending about $400 million on two new LNG carriers and that it is on the verge of ordering several floating storage and regasification units.

So what: Naturally, investors are taking Golar's shopping spree as a clear sign that demand is bouncing back and that its orders are finally starting to firm up. In fact, the stock is flirting with a new 52-week high today, with more than 860,000 shares having already changed hands (versus its average volume of 284,000 shares).

Now what: I'd be a little cautious about jumping onto Golar right now. With today's double-digit pop, the shares are up about 80% over the past three months and trade at a forward P/E above 20. Golar is more than two times as volatile as Mr. Market, so while the recent ride up has been great, any market or company-specific hiccup could send it down just as swiftly.

Interested in more info on Golar? 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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