In a free market, we make rational and conscious decisions every day about how we want our assets allocated. Yet most investing isn t about making transactions. It's about knowing what's going on within your positions, the markets and the world at large. Apart from buying and selling, investment is the process of gathering information to make those determinations better, more informed and, over time, more profitable.

Last summer, I profiled Wacoal Holdings (WACLY), a big ($1.8 billion market cap), yet thinly-traded manufacturer of bras, panties and other intimate apparel. After some initial weakness, the stock has quietly rallied, breaking out to a new yearly high early this month. I own it and recently added to my position.

Wacoal Holding (WACLY) -- 1 year

In an environment where assets are highly correlated, risk is off (such as it was last week), and only yen and Treasuries rise, it's encouraging to find a sign any sign that an investment thesis is intact.

So even as equity markets retreated, I was encouraged to see shares of Maidenform Brands (MFB) also pop last week towards a near-12-month high.

Maidenform Brands (MFB) -- 4 years

While some names seem to trade in their own world Netflix (NFLX) comes to mind in general stocks tend to move in packs. For example, shares of UAL Corp. (UAUA) have soared over the past year, but US Airways (LCC), LAN Airlines (LFL) and even sector play Claymore/NYSE Arca Airline ETF (FAA) have all come along for the ride with similar, albeit less lofty, ascents.

So even without trading your stock or fund, it pays to monitor the industry to which it belongs. The highest probability trades are those in which the entire sector is strong, not just one needle in the haystack.

I admit I'd surely be more confident in Wacoal if Hanesbrands (HBI) and Warnaco (WRC), two other public underwear markets, were also breaking out, which is exactly why I m not expanding my exposure to include additional names. But for now, it's a winning trade that's strongly outperforming without so much as a tweet or message board mention.

When a "sister" stock to one of your top holdings strengthens, consider it an objectively bullish sign. And because so much of investing comes down to waiting, not actually trading, I take it as a tiny reason to believe it's not time to sell women s underwear just yet.

At the time of writing, Hoenig s fund held positions in many of the securities mentioned.