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4 Hot Stocks to Trade (or Not)

Tickers in this article: BAC BSX CHK F

7 Hot Stocks to Trade (or Not)

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 that's known as "crowdsourcing," and it uses the masses to identify emerging trends in the market.

>>5 Stocks Setting Up to Break Out

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 some of the most active stocks on the market today.

>>5 Stocks Insiders Are Scooping Up

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 today's stocks .

>>5 Rocket Stocks to Buy This Week

Chesapeake Energy

Nearest Resistance: $21.50
Nearest Support: $19.50
Catalyst: CEO Retirement

On the other side of the spectrum, Chesapeake Energy (CHK) is rallying hard following news that embattled CEO and co-founder Aubrey McClendon would be stepping down from his post on April 1. No, it's not just an early April Fool's joke. McClendon, you'll remember, was at the center of a debacle where he'd borrowed around a billion dollars against his holdings in CHK to fund personal stakes in wells used by Chesapeake. Since that came out, the tenuous relationship between McClendon and the board has been grabbing more headlines than Chesapeake's own business has.

Shares popped on the news, rallying up to 11% in the pre-market, but they've been fading over the course of the trading session, only up around 5% as I write. With shares near an important resistance level at $21.50, but well above the equally strong support levels in the mid-teens, I think it's premature to jump into this name just yet. Instead, a bounce at a weaker $19.50 support level would be a more cautious entry opportunity for investors.