The main goal of this paper is to evaluate the usability of several algorithms on various sentiment-labeled datasets. The process of creating good semantic vector representations for textual data is considered a very demanding task for the research community. The first and most important step of a Natural Language Processing (NLP) system, is text preprocessing, which greatly affects the overall accuracy of the classification algorithms. In this work, two vector space models are created, and a study consisting of a variety of algorithms, is performed on them. The work is based on the IMDb dataset which contains movie reviews along with their associated labels (positive or negative). The goal is to obtain the model with the highest accuracy and the best generalization. To measure how well these models generalize in other domains, several datasets, which are further analyzed later, are used.