A portable lightning rod includes an upper electrode disposed at its uppermost end for receiving an electric charge from lightning, a lower electrode disposed at its lower end for physical and electrical contact with the earth and an electrical conductor connecting the upper and lower electrodes. The conductor is insulated from the environment by an insulative outer layer and is constructed so that the rod may be extended for use, or retracted for storage or transportation. An umbrella sheath is usable with the lightning rod to provide shelter from rain and to demarcate an area of lightning protection. An alternative lower electrode is disclosed for physical and electrical contact with water.