Goldman downgraded ZION, saying it would lose bulk on their next year earnings. My question is, is Goldman reaching for straws here? "Zions Bancorp. (ZION) opened at 24.26. So far today, the stock has hit a low of 19.66 and a high of 25.44. ZION is now trading at 20.22, down 5.47 (-22.55%). The stock hit its 52 week high of 81.43 in July and set its 52 week low of 19.66 today. ZION has been dropping for the past year. Zions shares have been taking a hit after a Goldman Sachs analyst downgraded the stock to "Sell" and said it expects U.S. regional banks to continue to face heavy losses as cost of capital rises and credit conditions worsen. The broker also lowered his 2008 earnings estimates. Technical indicators for the stock are bearish and steady while S&P gives ZION a negative 2 STARS (out of 5) sell rating. If youâre looking for a hedged play on this stock, consider an October bear-call credit spread above the $35 range. ZION stock could rise up to 73.1% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]" http://www.marketintelligencecenter.com/articles/646261 NOTE: We have a small position in ZION.