BALTIMORE (Stockpickr) -- Put down the 10-K filings and the stock screeners. It's time to take a break from the traditional methods of generating investment ideas. Instead, let the crowd do it for you.
From hedge funds to individual investors, scores of market participants are turning to social media to figure out which stocks are worth watching. It's a concept thats known as "crowdsourcing," and it uses the masses to identify emerging trends in the market.
Crowdsourcing has long been a popular tool for the advertising industry, but it also makes a lot of sense as an investment tool. After all, the market is completely driven by the supply and demand, so it can be valuable to see what names are trending among the crowd.
Nearest Support: $375
Catalyst: "Paid Peering" Deal Shares of Netflix (NFLX - Get Report) are up on high volume this morning, after news hit that the streaming video service was paying Comcast (CMCSA - Get Report) for faster network speeds. The timing of the deal is particularly interesting given recent rulings on net neutrality, and complaints from Verizon (VZ - Get Report) FiOS customers about Netflix connection speeds following the release of the second season of the company's smash hit show "House of Cards." The media attention the deal is getting could ultimately benefit Netflix's case most of all. So while Netflix is cutting the check, Comcast could really be the one playing into its hand. And Mr. Market is reacting in kind. A quick glance at the chart is all you need to know to see that the dominant trend in NFLX is up. With shares near the top of their price channel, I'd recommend waiting for a pullback before going long here.
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