lt cap,

I agree with everything you've said. CIEN's quarter seem rather good to my eyes, but I understand the guidance is what's killing it. I can't see the guidance being that bad. The street is treating this sector as though it's full of cybersecurity firms with outrageous PE's that all are built on hope for growth. INFN falling in sympathy seems ridiculous - their last CC was just fine. From the price actions, you'd have to think the street thinks this sector is in a secular decline, rather than the opposite.

I'm tempted to jump in but I'm already way overweight in CIEN and INFN to a lesser degree. Of course, the stock I want to buy now, CSCO lost 9 cents while the rest of the sector is in 'bloodbath mode.' I could still jump in, although Iv'e missed the best bargains of the day. But when reason fails to rule, I ask myself - why can't INFN revisit the $13's, if valuations in the sector are just wacky-low.  A bit like your dilemma on NOK - you already have a ton, but buying opps do seem to come up.

But the market will do what the market will do. Long haul (no functional pun intended) is the game.