Bricks & Mortar Shell update.
I have seen some increasing interest in BKS (Barnes & Noble Inc.) this week – from the Long side. As many of you know, I have been short this stock for some time, and believe that its long-term prospects & their business model are dead.
However, I believe in paying attention to all the perspectives involved with a stock – technical and fundamental. I tightened up my stop on Tuesday (down to 9.99), but took the stop off as it approached the 10 level. I am currently evaluating my stop strategy now as it consolidates today.
The stock currently is struggling to achieve a hold above 10 (flagging below at the moment) as volume diminishes back to normal levels. Bollinger Band squeeze in play as well.
I will keep a tight leash on this trade, just in case the winds really are changing.