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: Seems like everything is up today, but Ashford Hospitality Trust (NYSE: AHT) is up more than most -- 12% and counting. Yowza.

So what: Twice in the past week, this hotel REIT has plummeted far enough to trigger our "10% promise" to tell you what the heck's going on. Last week, the reason was "earnings." Last night, as fellow Fool Anders Bylund opined, it seems a delayed reaction to a couple analyst downgrades of Summit Hotels (NYSE: INN) sparked Ashford's sell-off.

Now what: This morning, it would appear investors woke up and realized -- hey, Summit Hotels is an entirely different hotel stock from Ashford. And just because some analyst says Summit is a bad bet, it doesn't mean you necessarily have to sell Ashford, too. So they began buying it back.

I can't shake the feeling that somehow, lemmings have gotten hold of E*TRADE accounts, and are rushing back and forth, into and out of the hotel REITs. My advice, then is simple: Unless you're a lemming yourself, stay away from Ashford. The company reported miserable earnings last week. It's got no P/E to speak of, and it's simply not worth your time today.

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