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 October 27 - 2015

Our market has finally formed a weekly pivot point to the upside on the two major indices and the SPI contract, and now they just need to break the downtrend line drawn from the April highs. Before that happens I expect we will see a daily pullback, then a daily pivot point to the upside. After that it is likely we will see a move up until it meets the uptrend line drawn from the 2009 low. If the anticipated move takes three months or so then this uptrend line should be met at around 6,000 where there will be serious resistance. However, at the moment unless there is a serious reversal in the next week or so we should see more trading opportunities while this move is taking place.

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Day Trader column for October 20 - 2015

At the time of writing the jury is still out on the market direction. Last week the indices formed reversals to the downside and the All Ords and the SPI contract still have not formed weekly pivot points. I should point out that in last week’s column I missed the fact that the ASX/S&P 200 had made a lower low for the week ending October 02 than the low formed for the week ending September 28.

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Day Trader column for October 13 - 2015

Last week saw our market move up two hundred points for the week but it did not quite move high enough to form a weekly pivot point. For the weekly pivot point to form the All Ords would have to have closed the week above 5,315.5 which is the high price of the week ending August 28, the week the low price for the move down was formed.

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Day Trader column for October 6 - 2015

Last week was another week of indecision. After the market fell nearly two hundred points last Tuesday it spent the next two days making up Tuesday’s losses only to close down on Friday. There is still no weekly pivot point to the upside and still no close below 5,000, however the momentum is still to the downside.

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Day Trader column for September 29 - 2015

Our market is still looking decidedly negative. Although last week closed well down on the previous week the indices still managed to close the week above 5,000. However the S&P/ASX 200 and the SPI contract both spiked below 5,000 on Wednesday. The All Ords is also still trading thirty odd points above the S&P/ASX 200 which is indicating the weakness is still in the top 200 stocks. This weakness can also be seen in the charts of the Banks, BHP and other major resource stocks along with major retailers as their charts have very similar patterns to the indices.

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Day Trader column for September 22 - 2015

We still had market indecision last week as all market indices traded inside the range of the previous three weeks, but the close for the week was near the high for the week. For a weekly pivot point to form the All Ords has to have a weekly close above 5,315 and not trade below 4,936. A close above 5,315 may signal the resumption of the uptrend, but a close below 4,936 will likely lead to further falls and a move towards 4,000.

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Day Trader column for September 15 - 2015

Another volatile week Last week, with a lot of indecision as both the All Ords and the S&P/ASX 200 along with the SPI contract all moved over a range of around two hundred and fifty points then closed the week thirty odd points up on the previous week. There was also no weekly pivot point to the upside. However although all three indices traded below 5,000 during the week they did manage to close above that strong support level. I have said in previous weeks that a weekly close below 5,000 will likely see the market move to the next strong support at 4,000 with some likelihood of support at 4,600.

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Day Trader column for September 8 - 2015

There was no weekly pivot point to the upside last week and my caution was vindicated as the market started falling on Monday and continued moving down all week. The 5,000 support/resistance level I spoke of last week again proved itself, when both the All Ords, S&P/ASX 200 and the SPI contract all finished the week bouncing around 5,000.

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Day Trader column for September 1 - 2015

Last week saw the Indices bounce off 5,000 which is a strong support going back to 2006 when the Indices first broke above 5,000. Last week I suggested 4,800 was the next target level on the way down. Well the All Ords and the S&P/ASX 200 both only went as low as 4,930 but the SPI contract which trades against the S&P/ASX 200 touched 4,805 on the open last Tuesday and it also finished the week at a 28 point discount to the index indicating to me that the market still lacks any strength to the upside.

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Day Trader column for August 25 - 2015

Our market has now broken the uptrend line which has been in place since the spike low in 2009. After the break of 5,400 the next support and target is now around 4,800 and as of Fridays close the SPI Futures contract was at a 46 point discount to the ASX/S&P 200 which is strong sign the market will trade lower.

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