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 online photo shop Shutterfly (Nasdaq: SFLY) jumped 10% today after being knocked down on an analyst's comments earlier this week.

So what: Shutterfly director James White just bought 35,000 shares on Wednesday when the stock sank, which is generally a bullish sign. This overcame Jim Cramer's "sell, sell, sell" advice during his lightning round yesterday, which can often affect trading in small stocks for a short time.  

Now what: Insider buying is generally a great sign for a company because insiders know what's really going on inside a company. They far more often sell because they're invested in options or restricted stock, so a flat-out buy is usually a good sign. With that said, I'm not going to jump on a stock that's trading at 32 times forward earnings in a very competitive market.

Interested in more info on Shutterfly? Add it to your watchlist by clicking here.    

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.