The longer term growth of defense stocks is predicated on peacetime needs as much or more than spikes during wartime. Military strength was a fraction during the previous administration of what it was to his predecessor. Just the possibility of threat by terror or in N. Korea, Phillipines, Columbia etc. will fuel military expansion and weapons development. What administration holds office in the next term is the crystal ball I'd choose to see. Long term investors should watch the political horizon. Day traders, stay tuned to CNN.