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 China-based private educator New Oriental Education & Technology Group (NYSE: EDU) scored an A+ today, jumping as much as 10.2% on heavy volume to set new all-time highs.

So what: Goldman Sachs not only upgraded the stock to a buy today with a fresh price target of $130 per ADR, but it also added New Oriental to its "conviction buy" list. That much TLC from a well-respected firm can do wonders for a small-cap stock with a light news flow.

Now what: Tim Hanson, co-advisor to our Global Gains newsletter on international investing, warned us six months ago that Chinese education stocks New Oriental, Ambow Education Holding (NYSE: AMBO), and China Distance Education Holdings (NYSE: DL) were emblematic of overheated enthusiasm for a poorly understood sector. Since that article was published, Ambow and China Distance have taken serious nosedives, while New Oriental only keeps getting more expensive. Goldman seems impressed by New Oriental's revenue growth but not terribly worried about regulation issues. I'd be wary of touching this stock until the Chinese government rewrites its rulebook for private education and its financing, the stock's Rule Breaker status notwithstanding.

Interested in more info on New Oriental Education & Technology Group? Add it to your watchlist.