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: What goes up must come down -- much to the chagrin of investors in Indian IT specialist Sify Technologies (Nasdaq: SIFY). Yesterday, the shares popped 15% for no particular reason. Today, a 13% plunge greeted investors.

So what: Precisely. So what? Just as there was no good explanation available for Sify's pop yesterday, so too does there seem no good reason for today's plunge. And indeed, as I type this in the middle of trading today, most of the morning's plunge has been erased.

Now what: What will tomorrow bring? I honestly have no idea. What I do know is that I see no compelling reason to own this stock, whichever way its price moves on the morrow. While apparently "profitable" on a GAAP basis, Sify's triple-digit (near quadruple-digit) P/E ratio tells us the stock's profits are de minimis at best. Meanwhile, the company has no history of generating actual cash profits. (To the contrary, the company has burned through more than $93 million over the past five years.)

Buy Sify? Sell Sify? Choose your poison -- maybe you'll even nab a profit. But you're probably better off just spinning the wheel in Vegas. You'll get better odds.

Want to keep closer track of Sify's ups and downs? Add it to your Watchlist today.

Fool contributor Rich Smith does not have any position in any company named above. The Motley Fool has a disclosure policy.

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