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 automation and control specialist Hollysys Automation Technologies (Nasdaq: HOLI) sank 10% in intraday trading Monday on above-average volume.

So what: I couldn't find any company-specific news driving the move, but given its high beta and Chinese small-cap status, it's no surprise that the stock is selling off hard on a big "down market" day. After an explosive second half of 2010, Hollysys shares have now fallen 45% in 2011 and are steadily approaching new 52-week lows.

Now what: I wouldn't look too much into the selloff. Hollysys has a strong tendency to plunge and pop on little or no news, so long-term investors shouldn't be overly concerned. Only two weeks ago, fellow Fool Anders Bylund highlighted the stock's recent weakness as a possible entry point, and today's double-digit slide should only make it that much more enticing.

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