US Defense Contractors Get Higher

  If you know where and how to look, you would NOT be misled by "experts" that sound logical but it is not logical:-

The Defense Sector ETF Is Telling Us No One Is Worried About The Fiscal Cliff

Stifel Nicolaus strategist Dave Lutz recently told us that defense stocks are "ground zero" for the fiscal cliff, as the sequester would likely slash government funds going their way.

So, we'd consider the Aerospace & Defense sector ETF (ITA) to be a decent proxy for confidence in a fiscal cliff deal.

LPL Financial's Jeff Kleintop just tweeted that the ITA hit a major milestone.

"What Fiscal Cliff/Sequestration?" Kleintop asked rhetorically.  "The Defense stock index hit a new all-time high today."

Here's a look at the year-to-date performance of the ITA via Bloomberg.  Anyone betting against this is getting slammed.