I finally managed to trade today after a 48-hour flight down to Patagonia. I am now in the city of Ushuaia, Argentina, one of the most southern inhabited regions of our planet, some 800 miles (1,300 km) north of the Antarctic Circle. The Antarctic Peninsula itself is only some 620 miles (1,000 km) away. Today, I am soon heading out to do a 25K (15.5 mile) practice run, tomorrow I am going to do a few smaller runs in preparation for Saturday, and on Saturday, the big day, I am competing in an ultramarathon race.
In the past 24 hours, Russia did attack Ukraine, and Putin did what all of the various intelligence communities were warning he would do. The market dropped significantly but rebounded at the Open. You can catch our recap here where you will be able to watch the nice reversal on TQQQ that Brian and I both executed.
Many people have been asking me recently what they should do to preserve their investments during this challenging period. I do not have a guaranteed solution for them, but what I do know is that panic selling based on geopolitical news is not usually a sound idea. There is a saying that sometimes it is best to forget the password to your retirement savings account! If you think about it for a minute, there is wisdom in that approach. No one really knows how the situation is going to turn out in Eastern Europe. I am sure we all hope it can be resolved quickly and as peacefully as possible. Below is an image that was shared in the chatroom illustrating how the financial markets reacted before and after 5 major conflicts dating back to the Vietnam War.
Russia was not threatened by NATO or Ukraine. Its invasion of Ukraine is a war of choice, conjured out of nothing by Vladimir Putin.
History will judge him harshly.
Despite what is unfolding in the world, I hope everyone is having a good Thursday, and I will see you in the chatroom on Friday. Today, for Thursday Mentorship, we are offering 3 different sessions. I unfortunately have to miss my morning one, but John will be leading his Q&A for new traders at 2pm ET in the Classroom, Ed is holding his mentorship session at 4:30pm ET (with 30 minutes of after-hours trading commencing at 4pm ET), and Thor is up at 8pm ET.
I look forward to connecting with all Elite members in the mentorship sessions, if not in the chatroom.
To your success,
PS: Please remember to set aside some time each week to practice your trading in our free web-based market replay tool. It is available 24/7, when you are, and we have just finished upgrading it to better meet your needs. You can check it out here.