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 specialty metals producer Allegheny Tech
So what: Regular Fools know to take any analyst’s opinion with a grain of salt, but given the sheer number of calls the controversial Cramer makes, it's best to take an extra cautious approach toward his recommendations. In this particular case, Cramer chose Allegheny over Alcoa
Now what: Don't let today's pop keep you from looking into the stock. While blindly following the advice of so-called market mavens is never a good idea, Allegheny's growth prospects, specialized niche in high-performance metals, and low forward P/E really do make it an attractive long-term opportunity. Of course, with a stock that sports nearly twice the volatility of the broader market, expect the path to be bumpy.
Interested in more info on Allegheny? Add it to your watchlist.