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Need Software program or access to a service that analyzes financial stock news to indicate if the news was Good or Bad.

Posted on 2009-05-10
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Last Modified: 2013-11-19
Hi Experts,
I hope this is the right forum for this question. To help with stock trading I am looking for either a program (in Visual Basic) or a service provider that automatically reads financial news about companies and indicates if that news was good or bad.
There are some services and programs but those are either very expensive or are are using Java. I need something that is not very expensive and that I can try using Visual Basic or html.
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Question by:uzairp
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6 Comments
 
LVL 31

Expert Comment

by:moorhouselondon
ID: 24349453
News may be good or bad, but it's all relative.  Bad news might conceivably raise a share's price simply because the market had already built-in to the current price the expectation that the news was going to be worse than actually reported.
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LVL 46

Expert Comment

by:tbsgadi
ID: 24353507
Have a look at the following:

http://www.filetransit.com/topfilefree.php?name=Stock_Toolbar

Good Luck!

Gary
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LVL 3

Accepted Solution

by:
bleech677 earned 750 total points
ID: 24354226
I don't really think there is a way for a program to determine if a news storey was good or bad.

I suggest you setup a google alert and have it email to your phone anytime it picks up new news. You can enter your stock symbol as a keyword or the company name.  Set it to  notify you right away(default)

http://www.google.com/alerts
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LVL 3

Expert Comment

by:bleech677
ID: 24387857
Did you try google alerts?
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LVL 31

Expert Comment

by:moorhouselondon
ID: 24388134
What also needs to be considered is that it isn't beyond the realms of possibility for someone to spread malicious news about a company in a way that will be accepted by google enough to be planted at the top of searches.  See, for example:-

http://en.wikipedia.org/wiki/Google_bomb

There was a case recently where bad news was re-released inadvertantly. Now some people who acted on that news thinking it was new news might do the wrong thing:-

http://www.news.com.au/business/story/0,27753,24323801-14334,00.html

Here is a frightening statistic:-

In 2006 at the London Stock Exchange, over 40% of all orders were entered by algo traders, with 60% predicted for 2007.

http://en.wikipedia.org/wiki/Algorithmic_trading

Why is this frightening?  All it takes is trading activity that emulates an impending crash in the market and the sell algorithms could go into operation automatically, causing a self-perpetuating domino effect.
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