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 precious-metal miner Endeavour Silver (NYSE: EXK) were looking a lot more polished today, gaining as much as 14% in intraday trading on heavier-than-average volume.

So what: "What goes down must come up" generally applies only to SuperBalls, but today it looked like the same was holding true for Endeavour. Yesterday, investors watched as shares melted down despite a strong earnings report. The weakness yesterday was probably triggered by the ugly action in silver prices, while today's gain could be a sigh of relief as silver appears to have found its footing again -- at least for the moment. iShares Silver Trust (NYSE: SLV) ticked up 2%, while Sprott Physical Silver Trust (NYSE: PSLV) tacked on nearly 7%.

Now what: Endeavour shareholders should probably strap themselves in and prepare for a bumpy ride ahead. Volume on the iShares Silver Trust has absolutely exploded, nearly breaching 300 million shares yesterday versus a three-month average of 57 million. Meanwhile, views on where silver is headed are wildly divergent. Recently at Fool.com, Alex Dumortier warned that silver could fall by 66%, while Christopher Barker countered that the weakness in silver is a buying opportunity.

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