Chat, gold, markets and BKS/Nook

Don’t forget to join me for this week’s Live Q&A Chat at 2pm EST at http://tradingwithcody.com/chat.

A few notes:

The recent strong momentum rally action has abated to something softer this week. Gold’s action makes you say Hmmm too. Careful out there, as it’s been a while since we had a panic in the stock markets.

I’m still a long-term holder of physical gold and silver coins and bullion. The near-term cap that the big banks have used to lean on the prices is having a hard time staying fitted on.

I’m short $BKS because their revenue is declining, the company has too many fixed costs, and their Nook platform is already doomed/dead. Spinning off Nook doesn’t change my thesis overall, and indeed it gives us a new catalyst to the downside since there’s now NO growth in the model at all without Nook.