Ann: Market update, page-8

Falling on absolutely no volume this week. It's annoying, but crazy for anyone to take profits imo, given prospect of Iraqi Government sales; cashed up military budgets of other Middle Eastern players like the UAE, Saudi and Oman, and the US roadshow later this month. If my memory serves me correctly, the Gulf made up the bulk of the $1.7 trillion in global defence expenditure in 2016. On that issue, Middle Eastern countries often make budgetary decisions on new defence or technological innovations together (especially if the UAE makes the first move). This means if one buys, there is a high likelihood that more will follow. Imagine where the share price will go if Iraq, UAE, Saudi, etc. sign on at more or less the same time?