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 January 6 - 2015

Welcome to 2015 and I wish you all a very prosperous year ahead. As promised, this weeks and next week’s column will be a potted version of my trading methods with some market asides thrown in for good measure.

Read more >>

Day Trader column for December 16 - 2015

We often see our market run up into Christmas but this year it looks very much like the market will continue its current trend and trade lower. I hate being the bearer of bad tidings, but the 5,000 target is looking likely to be reached sooner rather than later and if that is broken then the next support level is 4,600.

Read more >>

Day Trader column for December 9 - 2014

Another week where our market rallied for a few days then fell on Friday. The result for the week was a small rise of twenty odd points after a fall early in the week of more than one hundred points. This sort of volatility is often seen before a market fall, which makes it tough for me to trade. It is the sort of market intraday traders who are nimble on their feet can find stimulating but can lead to serious losses if trading low volume stocks or financial instruments.

Read more >>

Day Trader column for December 2 - 2014

The week before last, our market indices had a weekly pivot point to the downside. Last week after some indecision and volatility for most of the week, it certainly got on with it on Friday. Most market sectors had a bad week. The tech stock indices reversed last week and the only index to really outperform was the health care index. The oil stocks and consumer staples took a real battering and it looks as though there is more to come.

Read more >>

Day Trader column for November 18 - 2014

It seems a week is a long time in the market. Last week it looked like the All Ords was ready to continue its move up. However, it reversed and moved down all week until Friday when it formed a reversal candle to the upside. The pullback traded as low as 5,400 which is a pretty strong support level, so we may see the move up get under way again this week. I still believe we are seeing the beginning of the move towards 6,000 but at this stage it is not a very broad based move. We are still only seeing any significant strength in the market coming from the top end of the market. There are still only a few stocks in the under $2.00 range which are showing any promise.

Read more >>

Day Trader column for November 25 - 2014

Our market formed a weekly pivot point to the downside last week, vindicating my decision not to invest more money for the moment. It now remains to be seen where the fall is arrested. It could be we will see a move up this week as there is a support/resistance level around 5,300 on the All Ords. If this is broken then the next support is around October’s spike low of 5,100. However, what we saw last week was the biggest one week move down since June 2013. I have also found that the longest move down in any trend (whether it be an Our market formed a weekly pivot point to the downside last week, vindicating my decision not to invest more money for the moment. It now remains to be seen where the fall is arrested. It could be we will see a move up this week as there is a support/resistance level around 5,300 on the All Ords. If this is broken then the next support is around October’s spike low of 5,100. However, what we saw last week was the biggest one week move down since June 2013. I have also found that the longest move down in any trend (whether it be an index or stock) is rarely the end of the move. It usually forecasts lower lows to come. That can occur in any time frame. So in this case I do expect the market to trade lower than last week’s low before any serious move up is likely to begin.

Read more >>

Day Trader column for November 11 - 2014

Last Friday all three indices, the All Ords, ASX/S&P 200 and the Futures contract on the ASX/S&P 200 (the SPI) all formed daily pivot points to the upside after a small pullback, which formed a spike low last Wednesday.

Read more >>

Day Trader column for November 4 - 2014

The last two weeks have seen a serious reversal of the recent downtrend and last week the volume has increased significantly. There was also an increase in interest in the lower priced stocks. When I run my weekly scans of my data base at the moment, I split the search into two price groups. Firstly I scan all stocks in the price range 10c to $2.00 which are trading with reasonable volume. The second scan is for stocks priced over $2.00. At the moment I am not looking at stocks priced below 10c as there is not enough volume in that sector of the market at the moment.

Read more >>

Day Trader column for October 28 - 2014

After moving down for a couple of months our market finally found support around 5,100 and reversed to form a weekly pivot point to the upside last week.

Read more >>

Day Trader column for October 21 - 2014

Although last week was a positive week for our market there are still only a handful of stocks that have setups that I am watching. Before I do anything I will need to see the market at least form a weekly pivot point and then switch to a daily chart and wait for a pull back and a daily pivot point to the upside.

Read more >>