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 online travel company International (Nasdaq: CTRP) sank as low as 10.5% on Tuesday after its guidance for the current quarter came in below Wall Street expectations.

So what: For the second quarter, Ctrip now sees revenue of between $118 million and $123 million, versus the average analyst estimate of $132 million. While Ctrip's first-quarter results managed to top expectations, tougher year-over-year comparisons going forward and slowing industry demand has investors a tad concerned.    

Now what: I'd look into this double-digit dip as a possible pouncing opportunity. While Ctrip's rate of growth seems to be slowing at the moment, its long-term potential -- only 3% of Internet users in China use Ctrip -- remains highly attractive. More importantly, with a PEG ratio now under 1.5, those prospects are also becoming attractively priced.

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