This was my first pair trade recommendation in early November last year, and it's performing as expected. Zions (ZION) is up 12.3%, and Piper Jaffray (PJC) is down 1%. That is exactly the type of performance you should expect from a long and short. Considering the bullish environment in stocks, the most impressive feat of the trade is the loss in Piper.
The conditions in regional bank are improving. At the same time, Wall Street is struggling to generate profits. This particular trade should be maintained by investors going forward.
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