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Stocks were on pause Friday after a two-day binge of celebrating that Federal Reserve officials had decided, after much deliberation, to do nothing, joining their peers in the eurozone.
Regional banks will be one of the leading beneficiaries of higher interest rates once they do materialize. The latest Fed statement throws the door wide open to a rate hike in December. Investors won’t wait for that to happen; they will start buying now. Zion Bancorp (ZION) has been one of the best regionals for several decades, and is now rounding up out of its mid-September langour.
Buy ZION at current market levels.
Jon Markman operates the investment firm Markman Capital Insights. He also offers a daily trading advisory service, Trader’s Advantage, and CounterPoint Options, a service that helps individual traders make steady, consistent profits with volatility-related instruments. Follow him on Twitter for his latest take on markets and innovation.