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 natural gas producer Quicksilver Resources (NYSE: KWK) fell as much as 13% today after releasing first-quarter earnings.

So what: Revenue fell 31.4% from a year ago to $145.5 million on lower production and natural gas prices. Analysts had predicted revenue of $179.8 million. The company reported a net loss of $0.35 per share, but on an adjusted basis the loss was only $0.09 per share, still below estimates.

Now what: I don't really see a lot of light at the end of the tunnel here. Production is down and the price of natural gas is so low that companies are shutting down production. I don't see a catalyst that will raise prices without attracting more drilling and killing prices again. I am staying away from this stock as losses continue to mount and long-term debt of more than $2 billion looms large.

Interested in more info on Quicksilver Resources? Add it to your Watchlist.

Fool contributor Travis Hoium has no position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his CAPS picks at TMFFlushDraw.

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