Forex Signal Provider ITM Financial Announces New Stock Market Screening Software That Uses Social Media Signals From Facebook, Twitter, and Google To Pick Stock Winners
ITM Financial, creators of the SSI Index for forex signals, has created a new version of its software that can monitor the search and social media world for stock market "tips" and "tells" in order to find stock prices about to move up or down in value.
Boston, Massachusetts (PRWEB) October 31, 2012
New technology startup ITM Financial is in the final stages of beta testing a new version of their stock market screening software. The software, based on their first software package, uses "SSI Signals", or social sentiment indexing, to monitor search results and social media for "keys", or "tells", on which way a stock's price is about to move. "It is a fascinating new world in which old school stock screening and picking is combined with modern information like Facebook chatter, Twitter streams, and Google search volume and results." says CEO, Curt Dalton. "I think the future of stock analysis is one where the person with the information first, whether it is form algorithms on the Internet or other signals, is going to be the winner in the early trade."
The software, code named "Thumper", has been in development for over 3 years now. "Pretty much when the forex trading software launched, we immediately saw the potential for a stock market version." added CTO, Ali Khan. "With the massive amount of information readily available to the trading world, the winners will be companies that can disseminate the data quickly and get it to stock traders in a very small amount of time." The software aims to use a social sentiment indicator on all publicly traded companies in the United States to start. Plans for European markets are being worked out now. By reading the social sentiment of a stock, which includes positive or negative mentions on sites like Facebook, Twitter, and Google, as well as the pace or speed at which the comments and blurbs are produced, price correlation can begin to be extracted out in a variety of ways. The advance algorithm technology places ITM Financial in a unique position in the financial markets. "We are able to gather, parse, and send out the data, all in one proprietary shop." adds Dalton.
The launch date for the beta testing group is scheduled for January 1, 2013. The company plans on keeping a tide lid on details and beta testing as the industry itself is full of copycat technologies. "We have to be careful as there are many companies who would love to figure out this technology and use it themselves." added Khan.
Currently, ITM Financial runs what some consider the best forex signal provider software on the market for Forex traders worldwide. Over 5,500 traders have taken the opportunity to test out the SSI Signals and indexing at http://www.ForexSignalProvider.com.
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