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 information-handling specialist IntraLinks Holdings (NYSE: IL) jumped as much as 12% in early trading today, meeting its average daily trading volume in less than 45 minutes.

So what: The company doesn't have any news of its own today and doesn't report earnings again until the middle of May. Storage rivals IBM (NYSE: IBM) and EMC (NYSE: EMC) did report earnings last night, shining a large spotlight of publicity and attention on the whole industry.

Now what: The sharp price spike is the kind of thing you'd see after a small, underfollowed company gets a favorable mention on Bloomberg TV or CNBC, though I can't know for sure because I canceled my cable service. Whether by media mention, sector spotlight, or an unannounced order from a large institution, IntraLinks has been public since only last August and will react strongly to the slightest bit of publicity. That's great as long as the attention is positive, but these freewheeling stocks also fall hard on bad news. Small-cap investing is not for the faint of heart!

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

Fool contributor Anders Bylund holds no position in any of the companies discussed here. The Fool owns shares of EMC and International Business Machines. Try any of our Foolish newsletter services free for 30 days. 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 is investors writing for investors.