Twitter Firehose and trading - Aussie Stock Forums

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  1. #1

    Default Twitter Firehose and trading

    I just read that twitter is opening access to the feed of all public "tweets" ie the "firehose" early next year.


    I imagine this will spawn a flurry of people trying to extract useful information out of this stream, as there is the potential to get hold of information faster than any other source.

    For a time, I think there is a profit in trading to be made for the ones that can best use this information. In the longer run I think this is just going to accelerate the rate of information transfer and make it harder to have any information others dont.

    i hate twitter but what do you think this sort of thing means for trading and algorithmic trading.

    (i am not a day trader, so forgive any ignorance)

  2. #2

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    Default Re: twitter firehose and trading

    Its already being done by hedge funds and IB's. This just makes it mainstream. The market is still a game though, there will be all sorts of deceptive activities taking place... how hard is it to make 50 twitter accounts, follow each other, get spammers to follow you, get a few legit followers for each account and then suddenly simultaneously say BHP is going down and buy into all the suckers selling simply because their twitter scanners tell them that there is a lot of negative BHP sentiment?
    Its not hard, would take probably 2 days to set it up.

  3. #3

    Default Re: twitter firehose and trading

    Quote Originally Posted by Naked shorts View Post
    This just makes it mainstream.
    True, but being mainstream accelerates growth of this sort of thing.

    Of course there will be spammers and people ramping stocks, i think this just makes it more interesting - as the technology required to extract usable information is greater.

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