Columns/Diary

Darryl Morley is a well known and respected newspaper columnist and professional trader, who is a former stockbroker. He has been wrote his avidly followed Day Trader column on trading and technical analysis for the Melbourne Herald Sun and the Hobart Mercury for over 20 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 April 5 - 2016

Another fall last week and now the All Ords has also formed a weekly pivot point to the downside. The gap between the S&P/ASX 200 and the SPI Futures contract widened, so the SPI is now at a 25 point discount to the S&P/ASX 200 indicating the professional traders have become more negative over the past week.

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Day Trader column for March 29 - 2016

Last Thursday our market fell sharply to close down for the week, causing the S&P/ASX 200 and the SPI Futures to form weekly pivot points to the downside. The All Ords which contains most of the active stocks in the lower price range which are not as actively traded by the big players also fell sharply on Thursday, but did not quite manage to form a weekly pivot point to the downside.

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Day Trader column for March 22 - 2016

Our market still does not know which way to go. Last week after falling around one hundred points, the All Ords and the S&P/ASX 200 both recovered to end the week up a few points, however the SPI futures contract closed the week down seventeen points.

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Day Trader column for March 15 - 2016

It looks like our market is going to break the downtrend and if the move continues 5,400 is the next resistance. A break above that will see the trend strengthen and the 2015 high of close to 6,000 on the All Ords will be the level where we see if the market is really going to take off.

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Day Trader column for March 8 - 2016

Last week was certainly a more positive week than we have seen for some time. The three market indices all formed weekly pivot points to the upside, and so too have all four banks now formed weekly pivot points to the upside.

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Day Trader column for March 1 - 2016

Of the stocks I mentioned last week which had formed weekly pivot points to the upside, only one Wesfarmers (WES) formed a weekly pivot point to the downside last week. All the others mentioned actually made higher highs for the week on Monday, then reversed the move up and had significant moves down for the rest of the week.

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Day Trader column for February 16 - 2016

As I explained last week I thought the market looked set for a further fall and that got under way last Tuesday. Don’t blame me I am just the messenger. The indices all fell below their recent support levels. The S&P/ASX 200 and the SPI contract both fell and closed below 4,800 and the All Ords closed below 4,900, so it looks like the 4,600 support level mentioned on several occasions over the past month or so will be tested in the near future.

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Day Trader column for February 23 - 2016

Last week may well have been the reversal from the move down which may well mean the previous week’s move down was a false break of the trend line discussed last week. If this is the case, we may be seeing a reversal to the upside but the top end of town will now need to reverse. Last week saw a few stocks, like AMP, Lend Lease (LLC) and RIO form weekly pivot points to the upside.

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Day Trader column for February 9 - 2016

The moves down which were indicated by the divergences I spoke about last week came to pass last week. The indices hung in on Monday, but fell sharply on Tuesday and Wednesday. The fall was arrested on Thursday but the hesitation in the market on Friday will likely lead to further falls. If the market continues to fall the next support as previously stated is around 4,600.

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Day Trader column for January 26 - 2016

There was a reversal on the weekly chart last week and the indices actually closed slightly higher for the week after the previous two weeks of substantial falls.

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