When the correction comes, Priceline (PCLN) will get hit hard

Priceline has posted some monumental gains this year, rising from $70 a share in January to $160 today.  You can't argue the reasoning for the stock's gains. The company continues to guide above analyst estimates, even in the face of a recession and travel slowdowns.
However, if a correction comes, get your eyepatch ready.  Prepare to see PCLN shares drop down to the bottom of their channel, around the $120 level.

The fundamentals just don't support the stock in the face of a broad market correction. Their 36.03 P/E ratio will need to be shaved down to around 20, which is why the $120 level makes so much sense.

I'm not saying it's time to short today. That would be pointless, shorting a stock that has kicked the Bears in the groin for the past 9 months.

However, keep your eye on PCLN and if the Bull market starts to crumble, PCLN should be your first target to short.