Today’s issue in preview:
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This niche tech industry is poised for explosive growth. Four stocks poised to benefit
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Two premier gold stocks just soared to all-time highs. The gold mining rally is back on.
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A critical yet under-the-radar industry is booming… and it’s sending an important message to us
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Our extraordinary track record gets even better: Oil stocks, critical resource stocks, Power Grid Upgrade stocks, and AI infrastructure stocks soar to new highs
A critical yet under-the-radar industry is booming… and it’s sending an important message to us
Credit: Francisco Zalez
It’s not getting much press, but the heavy-duty truck industry is in a big bull market. And that’s a great sign for the U.S. economy.
Many investors obsess over government data such as unemployment figures, job hirings, and the Consumer Price Index. I like to know that data as everyone else does. However, when I want a read on what’s really happening in the economy, I place a lot more focus on what’s happening in the real world.
I look at stock prices. I listen to the judge, jury, and executioner of any thesis, any trend, and any claim: The market.
Specifically, I look at the stock price action of companies and industries that make up the world’s economic core… companies sensitive to megatrends in manufacturing and infrastructure building.
For example, throughout 2025, I highlighted the soaring share price of high-horsepower engine maker Cummins (CMI) and pointed out that it was a very positive sign for the economy. Excellent GDP numbers followed.
The heavy-duty truck industry – dump trucks, cement trucks, tanker trucks, tow trucks, garbage trucks, semis, and the like – is the opposite of glamorous. You’re never going to see a long and hyperbolic financial newsletter promo about it. No money manager or financial guru will go viral for a big call on it.
However, heavy-duty trucks are “mission-critical” parts of the U.S. economy. Nothing around here gets built or hauled without them. Given this industry’s critical economic role, a good read on its health is a good read on overall U.S. economic health.
This brings us to the major players of the big truck industry.
Cummins recently hit an all-time high, but there’s also Oshkosh Corporation (OSK). It’s a giant maker of heavy-duty defense trucks, cement trucks, and fire trucks. Oshkosh shares just reached an all-time high.
Then there’s PACCAR (PCAR). It’s a giant in over-the-road semi-trucks. If you ever see a truck on the interstate with a “Kenworth” or “Peterbilt” emblem on it, you’re looking at a PACCAR product. PACCAR shares recently reached an all-time high.
Then there’s Allison Transmissions (ALSN). It’s one of the world’s largest manufacturers of heavy-duty vehicle transmissions. Heavy-duty truck and equipment transmissions go through a kind of hell that your car’s transmission will never see, so they must be super robust and specialized systems. On Tuesday, Allison stock soared to a new high after it reported strong quarterly business results.
Then there’s Caterpillar (CAT) and John Deere (DE), which are not in the “heavy-duty truck” category, but instead make heavy-duty construction equipment (including dump trucks) and farm equipment. Their products are often caked with the same mud from the same job sites as trucks made by the companies above. They are key players in the “critical, dirty, heavy-duty work” business. Both CAT and DE recently reached all-time highs.
The stock market is the world’s greatest forecasting mechanism. It tends to look ahead 6 -12 months. When an industry is in a recession, its stock prices will rise before the news media says it is recovering. When an industry seems to be doing well, its stock prices will decline before the news covers its downturn. This is often called “discounting” or “pricing in” the future.
We can look at the extraordinary strength in the heavy-duty truck industry and see it as a very positive sign for the U.S. economy. We are doing lots of digging, trenching, hauling, and building. The heavy-duty truck industry isn’t glamourous, it’s just critical. And it’s in a bull market.
Two premier gold stocks just soared to all-time highs. The gold mining rally is back on.
Credit: poco_bw
On Monday, we noted that after moving sideways and digesting their enormous 2025 gains, gold stocks are resuming their uptrend. Since that note, Franco Nevada (FNV) and Agnico Eagle (AEM) reached new all-time highs.
So we are saying it again today.
In 2003, I placed over half of my net worth into physical gold. Since making that bet, gold is up about 1,200%, far outperforming stocks. I haven’t sold one ounce along the way. And now, all these years later, the best reason I can find to be bullish on gold is the same reason why I bought gold in the first place…
The governments of most Western nations have promised far too many things to far too many people. They are spending far more on taxpayer benefits and wars than they collect in tax revenues.
The related debts and obligations governments have taken on cannot be paid back with sound money. They can only be paid back with debased, devalued money… much of which is created out of thin air. This is driving inflation and significant currency debasement. Put differently, prices are going up because the value of our money is going down.
Unfortunately, the runaway train of government spending is unlikely to slow down soon. No politician can win a major election by promising reduced government spending and benefits. Too many voters don’t understand why the spending and printing are ultimately harmful. And too many voters have a vested interest in seeing the spending continue.
As a result, many central banks, investment funds, and individuals are accumulating gold as “debasement defense.” This is sending the price of gold through the roof. It’s up 152% over the past two years.
In response, gold mining stocks are in a long-term uptrend. They soared 152% in 2025… then entered a sideways consolidation in January. However, two of the sector’s highest-quality, highest-profile leaders – Franco-Nevada and Agnico Eagle – just broke out to new all-time highs.
In the gold industry, these companies are premier players. They are “go to” stocks for many large investors when they want to take a position in gold mining. And they just soared to new all-time highs. The gold mining sector is back in rally mode. Trade accordingly.
This niche tech industry is poised for explosive growth. Four stocks poised to benefit
Credit: bbsferrari
In late 2024, I urged colleagues to invest in drone stocks with a simple bull case in mind…
After years of progress and innovation, military and surveillance drone makers can now produce large amounts of effective drones at low cost. Many drone applications now have very high “cost-to-damage inflicted” ratios. This makes drones a no-brainer area for countries to spend billions of dollars on.
My call turned out to be a big winner. Drone stocks such as Kratos Defense (KTOS) and Ondas (ONDS) are up hundreds of percent since then.
As drones, aka “flying robots,” have boomed, so have land-based robots. Autonomous car companies Waymo (a subsidiary of Google parent Alphabet (GOOG)) and Tesla (TSLA) are ramping up their self-driving car efforts with the goal of transforming our nation’s transportation system. This change will create many significant financial opportunities.
So, we have robots in the air and robots on land. But don’t forget about robots in the water. There’s a financial opportunity there as well.
“Maritime robots” hold much of the same world-changing promise as their flying and rolling counterparts. As you read this, underwater military drones are performing enemy surveillance. Ukraine has used naval drones to attack Russian ships. Big oil companies are using drones to monitor offshore drilling platforms and pipelines. Drones can inspect subsea fiber optic cables, act as delivery vehicles, assist with search-and-rescue efforts, and act as border patrol agents.
The U.S. government sees great potential in this technology. On February 24th, 2025, the Pentagon released a $152 billion spending plan that allocated around $5 billion purely to maritime robotics – across Unmanned Underwater Vehicles (UUVs), Small Unmanned Surface Vessels (SUSVs) and Medium Unmanned Surface Vessels (MUSVs).
Companies poised to benefit from greater maritime robot use include:
Oceaneering International (OII): OII performs work on oil and gas rigs and pipelines with subsea robotic vessels. It also performs high-tech analysis of oil and gas infrastructure. On top of that, OII has a defense angle. Its machines can assist the military with subsea infrastructure repair and installation services. OII is up 62% YTD.
Kongsberg Gruppen (KBGGY): KBGGY is based in Norway and is one of the biggest players in the global shipping market. Kongsberg Maritime (the robotics side of the business) is spinning off from Kongsberg Gruppen (the parent company) on April 23, 2026, allowing investors to invest purely in the high-margin, high-growth robotics and automation business.
Huntington Ingalls Industries (HII): HII is America’s largest military shipbuilder, a defense industry giant that can be thought of as “Boeing in the seas,” which has a huge robotics division. Of that $5 billion Pentagon budget, a huge portion will likely go to HII.
Kraken Robotics (KRKNF): KRKNF provides the critical infrastructure for almost every Western UUV (Anduril, HII, Teledyne, Kongsberg). Every major player runs on Kraken’s batteries, meaning it wins regardless of who ultimately wins Pentagon contracts.
Right now, robots in the air and robots on the ground get a lot of press. That press is justifiable, and those industries will generate investment opportunities for many years. However, don’t forget about robots in the water. They form a robotics sub-industry that is poised to boom.
Market Notes
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Our September 2025 recommendation to get long oil stocks continues its winning ways. The SPDR S&P Oil & Gas Equipment & Services ETF (XES) reached a new one-year high today. It’s up 53% since our original note.
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The high-tech battery boom we’ve covered is helping to drive an uptrend in battery metals such as lithium. The Global X Lithium ETF (LIT) broke out to a new all-time high today.
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South Korean stocks are soaring. The iShares South Korea ETF (EWY) recently reached an all-time high. South Korea’s stock market is heavily weighted towards AI memory makers. EWY is up 165% over the past year.
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Our recommendation to ignore the AI bears and stay long AI infrastructure is paying off. Critical AI infrastructure stocks Taiwan Semiconductor (TSM) and ASML (ASML) reached all-time highs today.
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Our recommendation to invest in the giant Power Grid Upgrade theme continues to pay off. Big electrical contractors MYR Group (MYRG) and Quanta Services (PWR) hit all-time highs today.
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Our recommendation to invest in critical resources continues to pay off. Shares of mining giant BHP Billiton (BHP) just reached all-time highs. Shares of the VanEck Rare Earth and Strategic Metals ETF (REMX) reached an all-time high today.
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Our January 12th, 2026, recommendation to invest in “AI bottleneck play” AXT, Inc. (AXTI) is paying off. The optics giant is now up 110% YTD.
Regards,
Brian Hunt
Editor, Money & Megatrends
