Forecasting Stock Movement? There’s an App for That
May 23, 2011
An Israeli developer of a financial analysis engine said Monday that it had released an application for Apple iPhones and iPads that forecasts stock market direction for the next trading day.
Sentigo said its Wall Street Scanner software will scan more than 7 million Web pages every day, from more than 15,000 news outlets, financial analysis firms, corporate Web sites and opinions expressed on social networking sits such as Twitter and Facebook.
The program filters out spam, non-English and duplicated web pages.
The input then gets converted into calculations of market sentiment on the largest 2,000 stocks listed in the United States.
Text analysis and proprietary algorithms will predict the potential direction of a stock, the company said.
The software scans the Web in particular for the fastest spreading stories across the Internet and unusual spikes in the volume of conversation and attention.
“Our learning machine algorithm integrates structured market data with unstructured crowd-sourced opinions to identify the bottom-line intelligence regarding stocks,’’ said Gadi Shvadron, Founder and CEO of Sentigo.
Separately, Erado said it reached agreement to supply its software for archiving tweets, Facebook messages and other social media communications to LinkedIn, the newly public social network for professional connections.
Erado will provide regulatory compliance services to LinkedIn. Based in Renton, WA, Erado provides an online suite of archiving, surveillance, hosting and security services for the financial services industry.
“Our system … will automatically capture and send to LinkedIn activity for post-review and retention by internal IT and compliance teams,’ said Erado CEO Craig Brauff.
