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 June 9 - 2015

Being a trader who likes to trade with the trend the past two months certainly have not been my friend. At this point on the weekly chart there has been an “A” wave down then a “B” wave up followed by a “C” wave down last week. In Elliot Wave theory this is what would be expected in a correction in an uptrend.

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Day Trader column for June 2 - 2015

Just maybe our market has resumed the uptrend, as by the close of trading last week the All Ords and S&P/ASX 200 had formed a weekly pivot point to the upside. There is a snag however as the SPI futures contract did not form a weekly pivot point. The reason is: the All Ords and the ASX/S&P 200 actually formed a new low the week before last whereas the SPI did not.

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Day Trader column for May 26 - 2015

Last week’s price action saw some light at the end of the downward spiralling tunnel in regard to the index. Last week the All Ords and the ASX/S&P 200 both traded to new lows for the move down over the past month or so.

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Day Trader column for May 19 - 2015

Last week saw the recent move down by many of the stocks from the ASX/S&P 200 find support at their uptrend lines which have been in place for some years.

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Day Trader column for May 12 - 2015

The performance last week of the four major banks, which make up a large percentage of the Indices will have done some serious damage to market confidence. Although they dragged the index down below the lows formed in March, which I mentioned in last week’s column, the levels reached by the banks and the index are now back to the uptrend line drawn from 2011.

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Day Trader column for May 5 - 2015

Last week the All Ords, S&P/ASX 200 and the SPI futures contract all formed weekly pivot points to the downside which means I will be waiting for a weekly pivot point to the upside before I begin putting more money into the market.

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Day Trader column for April 28 - 2015

Last week was a very interesting week in the market. Try as it might the All Ords could not be driven below 5,800. Then on Friday the day after the monthly Options expiry date the market had a big move up on greatly increased volume on many of the large market capitalised stocks.

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Day Trader column for April 21 - 2015

Last Wednesday saw our market break below 5,900 on the All Ords and this was after a reversal to the downside on Monday. After a recovery back above 5,900 on Thursday the fall on Friday was on increased volume and saw many stocks form weekly pivot points to the downside. The only one of the big four banks that did not form a weekly pivot point was the National Bank (NAB). NAB actually made its highest price for the past five weeks last week, so unless it continues down and closes below last week’s low it will remain in confirmed uptrend.

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Day Trader column for April 14 - 2015

After last week’s weekly pivot point to the upside all the stars are lined up for the next move up in our market to begin.

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Day Trader column for April 7 - 2015

After the weekly pivot point to the upside three weeks ago when the market came close to breaking the 6,000 resistance level it has spent the past two weeks trading in a slow pullback pattern and has as yet not traded below the low of the big week, three weeks ago. A daily pivot point to the upside this week or next should indicate the beginning of the next leg u in the market.

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