Why Use Google Trends?
You could use Google Trends to collect quick and easy traffic. There's a lot of people who look at these hot daily trends and write a blog post on a few of them daily to collect quick waves of traffic or try to predict which ones will stay hot and will be a new niche market that they could obtain rankings for before anyone else to stay ahead of the game. A cool tool that is great for finding niche long tail phrases is: http://freekeywords.wordtracker.com/gtrends/ it works off of a collection of the Google trends data over time (mainly showing the ones that have been a regular trend).
For instance an old almost forgotten cartoon that use to be way hot is one of the hot trends of the day and seems to be holding a lot of traffic. Since Captain Planet has not had much going on lately getting high rankings for "Captain Planet" and related phrase should be relatively easy. There's a risk investing time into ranking for this phrase but if I was to say that this traffic is to stick around and I'm willing to bet on it then ranking for this phase would be good if the traffic does continue to be high.
Another good example is right now the "peter g. peterson foundation" phrase is really hot because Peterson with the CEO of this foundation has been speaking out against Oboma's plan to "expand health care access with a broad, bipartisan vote" this most likely will not stay hot for to long but may hold high traffic (it's number one on the list right now) for a few days or a week (letz see we could start betting on stuff until we start getting most of them right then invest in collecting traffic for hot new niche phrases).
It's kinda like playing the stock market :) it goes up and down and many dif. ways but if you are watching closely you can almost predict the future (this is prob one of the big Digg article writers most favorite tool). I guess there's tons of opportunity you just have to be willing to invest the time and be prepared for a few disappointment when some things do not hold traffic as you hoped they would.