The Ruble Collapses

The stock market is digesting the dramatic news out of Ukraine. To be blunt, the bulk of the financial world has shut Russia out of the global financial system.

The ruble has collapsed. The Russian Stock Exchange isn’t open, but the Russia ETF has also plunged. It’s a complete disaster for anything that is even closely related to Russia.

There will be a lot of unusual side effects. The price of wheat is up, as is oil. Some precious metals like palladium are up.

For the most part, our stock market is behaving well. The indexes opened lower this morning, but we’ve seen some buyers come out. As I write this, the Nasdaq and Russell 2000 are both positive.

On our Buy List, Science Applications International (SAIC) is getting a nice 3% lift. Trex (TREX) is due to report after the close. This is a stock that’s gotten trashed this year, although it’s bounced in the last few days. Perhaps traders are positioning themselves for an earnings beat. The consensus is for 53 cents per share.

Posted by on February 28th, 2022 at 12:08 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.