) -- 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 that's 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.
While some fund managers are already trying to leverage social media resources like Twitter to find algorithmic trading opportunities, for most investors, crowdsourcing works best as a starting point for investors who want a starting point in their analysis. Today, we'll leverage the power of the crowd to take a look at
on the market today.
These "most active" names are the most heavily-traded names on the market -- and often, uber-active names have some sort of a technical or fundamental catalyst driving investors' attention on shares. That's especially true now that earnings season is officially underway. And when there's a big catalyst, there's often a trading opportunity.
Without further ado, here's a look at
Nearest Resistance: $17.50
Nearest Support: $16
Catalyst: Industry Bounce
) is up on big volume today, as a bounce in the transports industry buoys shares. Ford has posted some stellar performance in 2013, rallying more than 27% since the first trading session of the new year. And like the broad market, Ford is bouncing off of trendline support this week.
In the near-term, Ford's positioning right above $16 support makes it a low-risk name to build a position in, particularly if it can take out the remaining resistance at $17.50. Once through there, Ford is in new-high territory.
Nearest Resistance: $6
Nearest Support: $4.50
Catalyst: Gold Price Swings
Gold prices have been very active in the last couple of weeks, getting the attention of traders who've mostly either stayed short or clear of the metal as it staged a huge drop over the course of 2013. But while the metal is up big since August started, it's still remained a mixed bag for miners. Today,
) holds the honor of being the most heavily traded mining name on the market. And this $6 billion mining stock hasn't exactly shared in the yellow metal's August upside.
KGC has been consolidating since April, but it's been tracking sideways in the context of a downtrend. Until that down-sloping trendling in KGC gets broken, the high probability trade is to stay far away from the long side of this stock. While spot gold is showing some serious strength, miners still mostly aren't.
Nearest Resistance: $34
Nearest Support: $27
Catalyst: Earnings Beat
Last up is apparel retailer
), a mid-cap name that's up more than 12% in this afternoon's session after announcing solid earnings numbers to analysts. While Wall Street had been expecting earnings of 36 cents per share, GES actually made 52 cents for the quarter.
That positive surprise put the brakes on the decline in shares that had been eating away at investors' 2013 returns. But while this morning's gap up broke the downtrend, it still early to be a buyer in GES. This stock is still far from both support and resistance at this point, so there really isn't a high probability trade on the table until it moves into a better-defined range.
To see these stocks in action, check out the at
-- Written by Jonas Elmerraji in Baltimore.
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At the time of publication, author had no positions in stocks mentioned. Jonas Elmerraji, CMT, is a senior market analyst at Agora Financial in Baltimore and a contributor to
. Before that, he managed a portfolio of stocks for an investment advisory returned 15% in 2008. He has been featured in
Investor's Business Daily
, and on
Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation. Follow Jonas on Twitter @JonasElmerraji