IMO, both CIEN and INFN will recover from these levels once the market turmoil passes, which if my gut feeling is right, we have another period of declines coming, could be another 8% or so. Hopefully it is not more severe than that.  I too feel the rest of the year is shot, there will be plenty of Tax Loss selling to keep the market range bound.  That, however will provide a decent opportunity for next year for those with a long term horizon (i.e. with more than 18 month holding period).

Welch (INFN's CTO) stopped selling in April (from memory), that tells me he sold enough and feels comfortable to hold his still sizable position and still sees opportunities down the road.