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.

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