Columns

Darryl Morley is a well known and respected newspaper columnist and professional trader, who is a former stockbroker. He has been writing his avidly followed Day Trader column on trading and technical analysis for the Melbourne Herald Sun and the Hobart Mercury for over 11 years.

Darryl is likely unique, in that he actually writes about his own trades, his reasoning for selecting or rejecting certain stocks, how he sets his targets, his stops, his exit strategies. He’s also not shy about staying out of the market if the signals are not right and explaining why. This is very different from most talking heads, who are not dealing with their own money.

New columns are updated to this site every week.

These columns are written and published as a chronicle of Darryl’s trading. Any information provided is of an educational nature only. Please note that we are NOT a stock tipping service, either through the newspaper column nor through the workshops. Our hope is that by watching and learning from Darryl’s trading technique, you can start to learn to take control of your own finances, which we believe is especially relevant in today’s turbulent market.

Day Trader column for November 16 - 2018

Last week the SPI actually formed a weekly pivot point to the upside, but the ASX/S&P 200 failed to close above the high of the low week and therefore did not form a weekly pivot point to the upside.

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Day Trader column for November 9 - 2018

After a strong start last week our market ran out of steam on Thursday and Friday. As a result it did not come close to forming the elusive weekly pivot point to the upside.

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Day Trader column for November 2 - 2018

The weekly reversal formed the week before last and discussed in last week’s column was not able to arrest the fall. Last week the fall was relentless and was not arrested until it met the uptrend line which has been in place since 2009. It will be interesting to see whether this line holds and the uptrend resumes.

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Day Trader column for October 26 - 2018

As I expected the close last week saw the All Ords form a classic reversal pattern when it closed the week almost at its high for the week. For a weekly pivot point to form, the first requirement is that it does not trade below last week’s low of 5,909. We will then need to see it form a weekly close above last week’s high of 6,050.3.

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Day Trader column for October 19 - 2018

The All Ords reversed the move down right on cue at 5,900 on Monday this week. This was right on the projected targets and the uptrend line drawn from the early 2016 low mentioned last week. The gap between the SPI futures and the ASX/S&P 200 had slowly started to narrow on Wednesday, which is another positive sign.

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Day Trader column for October 12 - 2018

The price action since Wednesday last week certainly confirmed the move down from the rising wedge I have discussed over the last couple of weeks. This move down on the All Ords will now either find support around 6,100, or if that is broken then 5,900 is the next strong support/resistance level.

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Day Trader column for October 5 - 2018

Finally our market fell from the rising wedge formed over the past three weeks, since the 260 point fall at the beginning of September. I do not want to buy into this market at the moment, so I will continue to stay on the sidelines unless I see a really good setup and chart pattern to go with it.

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Day Trader column for September 28 - 2018

Nothing much has changed over the past week to alter my view on the market. It continues to dance around in a narrow range as it slowly moves up from the weekly low in early September.

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Day Trader column for September 21 - 2018

The pattern our market has formed over the past two weeks looks very ominous and I can now see the All Ords falling to the 6,100 level I mentioned last week and beyond. The next target for the All Ords is likely to be as low as 5,900 as there is a lot of support between 5,900 and 6,100.

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Day Trader column for September 14 - 2018

None of the short term positive indicators had the strength to prevent our market from falling last week. Once it broke below the uptrend channel and uptrend line I discussed last week it continued down and formed a decisive weekly pivot point to the downside. Many top tier stocks formed weekly pivot points to the downside.

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