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 Steiner Leisure (Nasdaq: STNR) fell as much as 11% in early trading before rallying back to down a little more than 2% of this writing.

So what: It's hard to tell what caused the initial sell-off, especially when most stocks were already down due to fears the U.S. debt crisis wouldn't be resolved in time for next week's deadline. Seeing this five-star stock in Motley Fool CAPS dip to about 12 times earnings appears to have brought forth the bargain shoppers.

Now what: We'll know whether the initial dumping was justified after the bell today, when Steiner reports second-quarter results. The four analysts following the company expect $0.86 in per-share earnings on $167.65 million in revenue. Do you think Steiner will meet or beat those estimates? Let us know what you think using the comments box below.

Interested in more info on Steiner Leisure? Add it to your watchlist .

Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.

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