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 VMware (NYSE: VMW) fell 11% today, following the broader software industry down.

So what: Worry is spreading quickly after Oracle reported a disappointing quarter last night; VMware was just another of today's casualties. Investors are on edge about every nugget of bad news, so the entire industry took a nosedive today.

Now what: The news could be a canary in the coal mine for many software companies because Oracle has a beat on overall industry spending. A slowdown for them likely means a slowdown for everyone in the industry. I am definitely not buying during this dip and would wait to see how information trickles out from the industry to see if this is really bad news for VMware.

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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.