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: Dice Holdings (NYSE: DHX) dropped 11% in intraday trading today after crossing below its 200-day moving average on Friday.

So what: Technical analysts consider the crossing of a moving average -- particularly over a longer time frame such as 200 days -- to be a signal the trend will continue. Such a crossover can become a self-fulfilling prophecy, at least in the near term. Dice, which provides online recruiting and career development services, has lost about a third of its value since the beginning of May.

Now what: In early May, two large investors, General Atlantic and Quadrangle Group, sold 8 million shares in a secondary offering. That increased the float to 56 million shares. An initiation of coverage today from Evercore with an overweight rating isn't enough to overcome the negative technical trend. Fundamental investors could consider disappointing employment news and a P/E ratio of 40 as reason to fire the stock.

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