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 Chinese automation and control technologist Hollysys Automation Technologies (Nasdaq: HOLI) jumped as much as 11.3% on average trading volume.

So what: Roth Capital just upgraded Hollysys to a buy, but I can't find any public information on price targets or the reasoning behind the move. Still, an upgrade is an upgrade, and that's often market-moving news without any further elaboration.

Now what: Last time I reported on Hollysys, the stock was plunging despite a positive earnings report. Today's move goes a long way toward restoring the stock to its earlier glory. In response to my previous article, an enthusiastic reader commented that the company will pose a large threat to the Chinese plans of industrial giants Rockwell Automation (NYSE: ROK), ABB (NYSE: ABB), and Emerson Electric (NYSE: EMR). Perhaps Roth Capital would agree with that assessment. Either way, the usual warnings to tread lightly in the hazardous market for Chinese small caps surely apply to Hollysys as well.

Interested in more info on Hollysys Automation Technologies? Add it to your watchlist.

Fool contributor Anders Bylund holds no position in any of the companies discussed here. Motley Fool newsletter services have recommended buying shares of Emerson Electric and ABB. 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.