Shares of Barnes & Noble traded lower on Tuesday, after word hit the Street that the company may soon launch an all out assault at rival Amazon .

At the heart of their arsenal is a new e-reader, which B&N calls the "Nook" and plans to sell for $259. Unlike the Kindle, B&N says their gadget will comes in colors and have a touchscreen display.

Meanwhile, a Reuters reports adds that B&N will be discounting titles heavily in their electronic format and that the Nook will also be able to use books from the Google Books Project.

What's the trade?

I’m short Barnes & Noble, reminds Karen Finerman. They’re a brick and mortar and as the publishing business evolves I'm reminded of the evolution in the music business. As it turned out, brick and mortar was not the place to be.

> Click here for more on Finerman's trade

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Trader disclosure: On Oct. 20th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Finerman's Firm Owns (BAC) Preferred, (BAC) Call Spreads, (BAC); Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm Owns (BKS) Puts, Is Short (BKS); Finerman's Firm Owns (MSFT); Finerman's Firm Owns (TGT); Finerman's Firm Owns (UNH) Calls; Finerman's Firm And Finerman Own (WFC) Preferred; Finerrman's Firm And Finerman Own (WMT); Finerman's Firm Is Short (UNG), (IJR), (MDY), (SPY), (IWM), (USO); Finerman Owns (AAPL); Najarian Owns (BX) Call Spread; Najarian Owns (GE) Calls; Najarian Owns (LAZ), Is Short (LAZ) Call, Owns (LAZ) Puts; Najarian Owns (MGM) Calls; Najarian Owns (STX) Call Spread; Najarian Owns (XLF) Call Spread; Najarian Owns (YHOO), Is Short (YHOO) Calls; Najarian Owns (TEX) Call Spread; Finerman's Firm And Finerman Own (FLS); Finerman's Firm Owns (DRI); Seygem Asset Managemnet Is Short (PBR); Seygem Asset Management Is Short (EWZ); Seymour Owns (CHL), (EWZ), (AAPL), (BAC), (CAT), (MGM)

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