Reasons why I have started a position in INFN (2K shares):

1.- I believe the stock has bottomed

2.- It has priced in all the bad news. If any remain, I doubt they are significant at these prices.

3.- The new Products being released over the next few months continue to be at the bleeding edge.  The company should be able to grow revenues for the next 2 years at least.  Their R&D remains top notch.

4.- Balance sheet is strong enough to enable the company to ride out the slump

5.- Management bough shares aggressively several months ago.  Lately, they have been excersizing shares and holding them for long term tax treatment

6.- The down cycle should end in the second half.

7.- Even though I blame the management for not having managed expectations a year ago, I trust they know their Industry segment and should execute well once the up cycle returns.