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 Cliffs Natural Resources (NYSE:CLF) jumped 17% today after the company released earnings.

So what: Revenue fell 6%, to $1.14 billion, and net income dropped 74%, to $97.1 million, or $0.60 per share after adjusting for one-time items. Analysts expected earnings of $0.32 per share, so the company did far better than expected, which is why the stock jumped. 

Now what: Cliff's may have beaten estimates, but the industry trends still aren't working in its favor. Global iron ore volumes fell 10% in the quarter and prices are down, which is why profit was so low. I'm not betting on an industry in decline and would sell the bump today.

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Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.