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 electric motor maker Harbin Electric (Nasdaq: HRBN) dropped as much as 12% in trading earlier today. (Again!) Harbin's made up much of the losses since.

So what: Harbin's in the midst of a CEO-led buyout , in which the company is set to go private at a purchase price of $24 per share. Chinese small-caps such as Harbin have drawn considerable investor scrutiny amid numerous examples and even more allegations of fraudulent activity.

Now what: Harbin shares sell for about $16 apiece. Short a hundred shares of Harbin today, and maybe you'll make a profit if the whole thing turns out to be a scam. On the other hand, there's a virtual certainty that if the CEO puts his money where his mouth is, a consummated going-private transaction will cost you $800. Personally, I wouldn't take the risk.

What will come of Harbin's going-private transaction? Add it to your Watchlist and find out.

Fool contributor Rich Smith does not own (or short) shares of either stock named above. 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 has a disclosure policy.