I am new to SEO and adsense, fiddling around with the adwords tool and I recently stumbled upon a long tail keyword with just over 1.00$ CPC getting around 120k unique exact search hits a month. Normally I would curse myself for not being able to hit page one with volume like this but this particular terms first page is dominated by squidoo and small article buzz sites, there is no authority site to be found and even the lower ranking links are hitting 100k a month. My question is... is this possible? Would I be able to break into top 10 or is it possible I have made a mistake somewhere because no words exist with volume like this not tapped into by one of you warriors already, lol.
Also, if I can't make an authority site for it, do any warriors pay for good search terms or just find their own?
Thanks for the help everyone, I appreciate it very much. Best 10$ I have ever spent to join a helpful forum like this.