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 financial services company Noah Holdings (Nasdaq: NOAH) look like premium papers today, rising as much as 10.9% on spiky, moderately heavy trading volume.

So what: The only news of note about Noah today is a blog post calling it a fast-growing Chinese small-cap stock. But even that event is a stretch, as Noah is simply listed alongside well-known analyst estimates and no analysis whatsoever.

Now what: Noah could also be on the positive end of some spontaneous trading today, taking the edge off a terrible month: As of Friday night, the stock had fallen by 39% in 30 days. It's still no value stock, mind you, commanding a hefty price-to-sales ratio north of 12,  about 10 times what you'll see in American versions of the same wealth management model.

Interested in more info on Noah Holdings? Add it to your watchlist.

Fool contributor Anders Bylund holds no position in any of the companies discussed here. 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 is investors writing for investors.