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 Chinese insurer CNinsure (Nasdaq: CISG) jumped more than 13% in intraday trading as investors reacted to the announcement that the CEO and the chief financial officer plan to buy shares on the open market.

So what: Yesterday, I admitted to being a bit flummoxed about the drop in CNinsure's shares after the company announced what looked like a pretty good quarter. Today, CNinsure's management has decided to take matters into its own hands and has announced that the CEO and the CFO are going to dig into their own pockets and snap up some -- at least according to them -- "significantly undervalued" shares.

Now what: The move is an interesting one because normally you'll see a company announce that it's about to buy back shares with company cash. An argument could be made that this is an even more bullish sign because company executives are typically thinking with their wallet when buying shares in the open market -- that is, they think they'll make money by buying. However, conspicuously missing from the press release were any details about the timing or size of the purchases, so there's always the possibility that this was done specifically as a PR stunt to get investors excited. Either way, this announcement alone is not enough to jump in and buy, and investors on the sidelines may want to now wait until today's excitement calms down. But this vote of confidence by management could be another positive piece in the high-growth story at CNinsure.

Want to keep up to date on CNinsure? Add it to your watchlist.