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 Central European Distribution (Nasdaq: CEDC) bounced 10% higher in trading today.

So what: There was no real news today, short interest is relatively low, and volume isn't out of this world -- but insiders are moving on this beaten-up stock nonetheless. Director Shanahan Williams made a $250,000 purchase of shares on Tuesday to go along with a similar purchase two months ago.

Now what: Traders are betting the insider purchase will give this stock legs after a hard fall in March. They may be right that this is the kind of bullish news shares need to start moving higher. I'd be a little cautious about jumping on today's drop, but when shares settle down I agree with our Motley Fool Global Gains team that this Russian vodka maker has big potential in the world's biggest vodka market.

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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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