A while ago, I happened to be watching a show on MSNBC featuring a guest. Well as is usual, the guest gets to give a little pitch about a book or website they have at the end of being interviewed.
Well for some odd reason, this guest didn't have her own domain and she said.
"You can find out more about me at name.wordpress.com"
Well it just so happened that the "name" she mentioned is a first name that is popularly misspelled.
So, more so as a test than anything, I literally ran over to wordpress.com and registered misspelledname.wordpress.com
The next day, to my surprise (well not really) I got over 25 type-in visitors (I know it was direct traffic from analytics).
If you multiple 25*30, that's over 750+ visitors/month, 7500+ visitors/year.
Of course these are only estimates. The point is just like you have "trend trading" you have trend domaining and it works like this:
Step 1 - watch the news for anyone being interviewed (pay particularly close attention when a guest is mentioning their domain name)
Step 2 - assuming you aren't violating any trademarks (for example someone's website is Bluedog.com and you register Bludog.com...."blue" and "blue" are not trademark type names. It's not the same as registering say Micrasoft.com vs. Microsoft.com....you could get in trouble...)
Step 3 - Register it!
Option Step 4 - If it's very targeted traffic (for instance a particular product or service) set up a quick optin page and follow up sequence. If you find a real winner, you can always poll/survey them and ask them what they are really looking for then...give it to them!
Obviously this is not meant for people who are going to spend their last $10, $20, $30, $50, etc on domains. But if you have some extra money laying around and are choosing between a bad movie and testing this, this would be alot more rewarding!
Try it and good luck!
If you want to learn more about the fundamentals of domaining, there are a few colleagues I can vouch for directly who's podcasts are worth checking out...Victor Pitts of Domain Masters (on webmaster radio) and Ed from Ozdomainer.com