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: This morning, shares of China Ming Yang Wind Power (NYSE: MY) popped more than 10%, on news that the windmill turbine manufacturer has received "priority" access to the Chinese rare-earth metals needed to make its vertical whirlybirds go.

So what: According to Ming Yang's CEO: "Building a wind power upstream supply chain is a core part of Ming Yang's strategic development at this stage." Note, however, that the CEO says nothing about where earning cash fits into that strategy.

Now what: While China Ming Yang claims to have earned $106 million in "profit" last year, the company actually burned through a good $92 million in negative free cash flow. While I'm all in favor of shoring up supply chains, I would suggest that investors take this company -- and its purported profits -- with a few grains of salt until we see some actual cash accumulate.

Think Rich is being overly skeptical of Ming Yang's success story? Want to watch as it develops? Add the company to your Watchlist and read along.

Fool contributor Rich Smith does not own (or short) any company named above. 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.