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 May 21 – 2013

As anticipated in last week’s column our market fell last week, but if it reverses to the upside before it falls as far as 5,100 then we should see the move above 5,200 begin in earnest. In the meantime I have begun putting additional money into stocks in anticipation of the move. However, I will remain cautious until the move becomes clearer to me.

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Day Trader column for May 14 – 2013

Patience is the name of the game at the moment. 5,200 is proving to be strong resistance for the All Ords and the S&P/ASX 200. Last Friday both traded above 5,200 but it was only the S&P/ASX 200 which managed to close above that resistance level.

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Day Trader column for May 7 – 2013

Last week I discussed the weekly pivot point which formed the week before and said I would wait for pull back on the daily chart, and a daily pivot point to the upside to confirm the uptrend, before getting back into the market.

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Day Trader column for April 30 – 2013

Both the All Ords and the S&P/ASX 200 formed weekly pivot points to the upside last week. The S&P/ASX 200 is still trading higher than the All Ords which shows the strength is still coming from the higher market capitalised stocks.

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Day Trader column for April 23 – 2013

Last week the All Ords and the S&P/ASX 200 continued to trade between 4,900 and 5,000. Interestingly the S&P/ASX 200 closed the week higher than the All Ords. This is another indication the current move in the market is being lead by the top end of town.

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Day Trader column for April 16 – 2013

Last week the All Ords traded above the previous week’s high intra week, but failed to close the week above the high, so it did not form a weekly pivot point. I will need to see a weekly pivot point form before I am comfortable the recent downtrend has reversed to the upside. As last week’s close was very close to forming a weekly pivot point, I suspect we will see the weekly reversal this week. For the weekly pivot point to form the All Ords will need to close above 5,020.

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Day Trader column for April 9 – 2013

The All Ords continued down last week after the weekly pivot point to the downside three weeks ago. The current move down comes after fifteen weeks of higher closes since November last year. During this run up from 4,400 to just short of 5,200 there were only two weeks where the market took a short breather and closed the week within the previous weeks range.

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Day Trader column for April 2 – 2013

It looks as though we may see some further weakness in our market as the All Ords has now had five days where it closed below 5,000 in the past two weeks.

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Day Trader column for March 26 – 2013

Last week I thought we would see the break above 5,200 on the All Ords, during last week, but that was not to be. Instead we saw it move down to close below 5,000 for the first time since February 12. However, the move down was arrested on Thursday and just maybe, Friday was the end of the move down. Last week’s price action left me $1,780 dollars down for the week and stopped out of a couple of stocks.

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Day Trader column for March 19 – 2013

There have been a series of higher spike lows formed since the All Ords broke above 5,000 and made the first retest of that level on February 22/23. Since then and including last week it has made three higher spike lows and two higher spike highs.

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