Not sure if this a niche or not, but the following idea might play very well when I try to market it: Use googletrend.info and google.com/trends to find the top 10-20 trends for the day. Spend time writing a post about each of them. Since each topic is a good search and there's a lot of content going around, this blog can receive tons of hits in a matter of moments, given that Google will index the new posts fairly quickly. 5 days in and it could be receiving thousands of hits a day if performed correctly. Your thoughts on the chances of success?
Well, as far as I know, you won't be the first in a long line of people doing it If you thought that idea out all by yourself then well done, you obviously have the ability to think of more ideas to get traffic and earn from that traffic. Good luck.
It's a good idea, the key however is how good your blog looks and how well you can write. Those two factors will make the difference between people reading your blog and people reading someone else's. If you can write clever and engaging posts then your chance for success will be much greater.
You can also do this on Technorati and Del.icio.us. Go to the hot tags of the day, post bookmark and ping.
I agree. You shouldn't move forward with anything but your best option. And to qualify as the best option it really needs to be something new and creative. ---^ That doesn't mean you won't go into a saturated area and still make hundreds or even thousands though. I guess it all depends on a number of different things.