Here is a quick review on the trade we placed today in TLAB. First thing we notice is the magnitude of the drop in a two month span. Tellabs has gone from 7.31 to 4.87 for a 30% loss. With a stock that has lost so much so quickly it is bound to create a bottom somewhere and start a bounce. We took notice of a nice round bottom forming over March with a firm resistance at 5.23.
