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: Independent U.S. oil and gas producer Rosetta Resources' (UNKNOWN:ROSE.DL) stock is up 14% as of this writing, continuing a week of strong gains that has the stock up big since Feb. 2:

ROSE Price Chart

ROSE Price data by YCharts

However, the company's stock still trades 45% below its peak back in July 2014:

ROSE Chart

ROSE data by YCharts

So what:  Rosetta Resources hasn't released any news, so the two likely causes are oil prices and speculation. West Texas Intermediate and Brent crude futures are up 5% today, and the company's percentage of shares held short has been rising since oil prices started falling in 2014. The combination of the two -- rising oil prices are good for Rosetta's business -- could be leading to a bit of a squeeze on short sellers now looking to exit their positions. 

Now what: Rosetta Resources reports earnings for the fourth quarter and fiscal 2014 on Feb. 24. Until then, the price is likely to remain relatively volatile, especially if oil prices continue to make big moves. Furthermore, it's important to remember that price moves like this aren't really a reflection of the business as much as the market's temperament. Before buying or selling shares, take the time to understand Rosetta's business, and how it fits in your portfolio. 

Jason Hall 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.