Right now, you can buy a dollar's worth of gold for about 36 cents.

That sounds impossible. Here's how it's real.

The major gold miners are throwing off record cash flow — even after gold's recent pullback. The four largest have never had this much free cash on hand. Ever. At today's gold price, they're running margins as high as 75% — the most profitable they have ever been.

Which hands them a problem.

Go here to see the problem — and why the majors are about to go on a shopping spree for the ages.

When a major gold miner makes record profits, it does one of two things: hand the cash back to shareholders, or buy the best junior mining assets to secure future production.

And here's the piece the market is missing:

The best junior assets are still priced as if gold were stuck at $1,800 an ounce — not north of $4,000, where it trades today.

So the majors are staring at their own future production shrinking, sitting on record cash, looking at top-tier junior assets trading at a fraction of what that gold is worth at today's price.

They don't have a choice. They buy — or their output keeps shrinking until they're out of business.

That's how you buy a dollar of gold for 36 cents: you own the junior before the major is forced to pay up for it.

The gap between what these assets are worth and what they trade for has a name. I call it the Golden Anomaly. It only appears early in a gold bull market, and it closes fast — usually the moment the majors start writing cheques.

So you can pay full price after the gap closes…

Or buy the dollar for 36 cents while the Anomaly still exists.

My name is Garrett Goggin, CFA, CMT, and it's why Porter Stansberry recently called me:

"THE most knowledgeable gold investor in the world."

Go here to see my Golden Anomaly portfolio — and the three names next on the majors' shopping list.

Best,

Garrett Goggin, CFA, CMT
Lead Analyst and Founder, Golden Portfolio

When Unusual Volume Isn't Noise: 3 Small-Caps Sending Signals

Written by Chris Markoch. Publication Date: 8/27/2026.

The volume of shares traded during a session often gets only a passing mention in the financial press—until a stock experiences unusually high volume. That's because volume can provide an important measure of the conviction behind a stock's price movement.

Stocks that trade at a multiple of their average daily volume are considered to be experiencing unusual volume. Any stock, from blue-chip large-cap stocks to speculative penny stocks, can experience a volume spike.

Stocks typically won't remain at unusually high volume for long before reverting to their average. But even when they do, the catalyst for the volume spike may still be present. That's the case for three small-cap stocks that have recently shown unusually high trading volume for completely different but valid reasons.

Is High Volume a Signal or Noise?

A volume spike is simply a signal that something has changed. Before acting on stocks with unusual volume, it's important to understand why volume is spiking. It's usually based on some type of news. But sometimes that news is more relevant to a related stock in the company's sector, or it may simply be noise.

For example, insider selling gets a lot of attention, but it often has nothing to do with a stock's fundamentals. Likewise, concerns about the relationship between artificial intelligence (AI) and software drove up volume across many stocks, including those reporting strong earnings.

Conversely, a new product launch may drive up trading volume as investors anticipate stronger sales and higher earnings. Volume can also climb because of high short interest. When many investors with short positions have to cover them, a short squeeze can occur.

Each example shows why unusually high trading volume by itself is not a reason to buy or sell a stock. They also illustrate why these three small-cap stocks may be worth a closer look.

Canada Goose: The Beaten-Down Stock With a Contrarian Setup

Unusually high volume can be positive or negative for a stock. In the case of Canada Goose (NYSE: GOOS), brief periods of high volume over the past year have mostly pushed the price lower. As of this writing, GOOS trades near its 52-week low of $8.10.

The reason is found in the company's name. Canada Goose is a Canadian company that will be directly affected by the escalating trade dispute between the United States and Canada.

According to data from Bank of America, a 50% tariff on Canadian goods, which took effect Aug. 22, raises the company's effective tariff rate on U.S. imports to 41.4% from 4.3%. That puts pressure on Canada Goose's bottom line, with year-over-year (YOY) results already lower because of soft traffic.

However, revenue is still growing YOY, and the company's luxury products come with an attractive gross margin of over 60%. That's particularly important because the company caters to consumers who are less impacted by sticky inflation and affordability concerns.

For investors with room in their portfolios for a beaten-down contrarian stock with solid fundamentals and potentially asymmetric upside if the category rebounds, GOOS is one to consider.

Capital Clean Energy Carriers: An Under-the-Radar Steady Compounder

Capital Clean Energy Carriers (NASDAQ: CCEC) is on the other end of the volume story. The company has seen spikes in trading volume as a bull case develops for a normally predictable shipping company.

Geopolitics is the story here. Capital Clean Energy operates a fleet of LNG and gas carriers that is seeing increased demand for contracted capacity as LNG demand rises and customers seek access to the company's shipping routes. Those routes run from the U.S. Gulf Coast to Asia, effectively bypassing the Strait of Hormuz.

In its Q2 2026 earnings report, the company reported a backlog of around $2.9 billion in contracted revenue (up to $4.3 billion with options). That was accompanied by adjusted earnings per share (EPS) that beat estimates by 50%. These results help explain why CCEC is trading within 10% of its 52-week high and why continued LNG shipping demand could drive the stock higher.

SOPHiA GENETICS: A Biotech That's Getting Re-Rated

SOPHiA GENETICS (NASDAQ: SOPH) rounds out this group of small-cap stocks. The company operates a cloud-based software-as-a-service (SaaS) platform that analyzes genomics, radiomics, and clinical data to guide cancer and rare disease diagnostics.

The company's volume spike is directly tied to its Q2 2026 earnings report, which beat revenue expectations and sent shares higher in premarket trading. This suggests that a genuine re-rating is underway.

The re-rating case rests on U.S. momentum: American revenue grew 64% year-over-year, and liquid biopsy revenue jumped 80% as the MSK-ACCESS and MSK-IMPACT applications ramped with new hospital customers, including a first pediatric partnership with Children's Hospital of Philadelphia.

The bigger debate is whether that momentum is durable. Management calls its network of more than 1,000 institutions across 75 countries a moat "that cannot be bought or replicated," built on a dataset of millions of genomic profiles that improves with every case analyzed.

That's a real advantage internationally, where SOPHiA faces less direct competition. But well-funded rivals and cloud-native AI entrants are circling, and the company is still burning cash, with breakeven adjusted EBITDA not expected until late 2026. For investors, the volume spike reflects genuine acceleration, but the long-term bull case remains unsettled.