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 Ctrip.com 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.

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

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

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