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 March 24 - 2015

Last week the All Ords and ASX/S&P 200 both closed close to their March 03 highs and it looks like 6,000 will be breached in the next week or two. The way the pattern has formed just below the 6,000 level is text book consolidation. That is the price moved up to 6,000 in early March then made a slow move down to around 5,750. It then traded sideways around 5,800 before breaking to the upside last Thursday.

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Day Trader column for March 17 - 2015

The All Ords and the ASX/S&P 200 both moved down early last week, which is what I would expect as part of the consolidation process around the 6,000 level. Thursday however saw the move down reversed in a daily pivot point to the upside. Friday saw the market trade in a narrow range around the top of Thursday’s trading range on slightly reduced volume. It is likely any further consolidation, if it takes place, may take place between 5,750 and 5,950 on the All Ords.

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Day Trader column for March 10 - 2015

As I expected the ASX/S&P 200 finally moved to within three points of 6,000 last week. The All Ords however only made it to 5,962 before moving back around one hundred points later in the week. If the market is going to move higher as I expect then both indices may take some more time to consolidate around this strong resistance level before moving higher. The All Ords is still trailing the ASX/S&P 200 by thirty points but we may see that gap narrow as the smaller stocks become more active.

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Day Trader column for March 3 - 2015

Last week saw both the All Ords and the S&P/ASX 200 trade around the 5,900 level and the All Ords closed one and a half points below 5,900 and the S&P/ASX 200 close near 5,030. As the gap between the two indices is slowly narrowing, it would appear the volume is starting to slowly come into the smaller stocks. As I have said in previous columns once we see this happen, which in an indicator the general public are become involved in the market, we can expect the momentum to increase.

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Day Trader column for February 23 - 2015

Our market still seems to be getting on with it. Last week the All Ords traded just above 5,900 and the ASX/S&P 200 traded close to 5,950. After the daily action last Thursday and Friday I am expecting a pull back this week for the market to consolidate before it moves to the serious resistance level of 6,000.

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Day Trader column for February 17 - 2015

It now seems clear the market has decided to resume the uptrend. 6,000 on the All Ords seems very likely in the near future.

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Day Trader column for February 10 - 2015

The indecision in the market I spoke of last week seems to have been decided in the positive. Last week the market clearly broke above the highs of last August and September and now it looks very much set to go much higher.

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Day Trader column for January 27 - 2015

Well it turns out a week is a long time in the market. Last week there was hardly a stock that looked positive and many, many stocks both large and small had formed weekly pivot points to the downside. Most were also on increased volume suggesting further falls to come. Then out of the blue we have the announcement that there will be massive quantitative easing in Europe and the turnaround in many markets including ours was instant

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Day Trader column for January 20 - 2015

Before Christmas I stated I would be away from internet access for several weeks and hence market access. Well I am now back from the Southern Ocean and it appears I have not missed much.

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Day Trader column for January 13 - 2015

Following on from last week’s column where I looked at the places on the chart where the buy patterns I look at form the overall picture. By viewing the setup as a picture and getting the small number of pictures of interest fixed in my head, it makes it very easy to scroll through a large number of charts very quickly.

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