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.

Fool contributor Brian Pacampara owns no position in any of the companies mentioned. Try any of our Foolish newsletter services free for 30 days.

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