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 March 25 - 2014

Another volatile week, but our market finished the week only a few points above where it started. Divergences, something I have not mentioned for some time, so a brief explanation is in order. A divergence occurs when two related indices or stocks, which regularly move in tandem to each other, cease to make similar highs or lows. For example if one makes a new high and the other fails to do the same, it is a high probability they will both fall.

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Day Trader column for March 18 - 2014

Our market certainly was not a pretty place last week. The All Ords was down a total of one hundred and thirty points over the course of the week. Friday, however was when the real damage was done. Viewed on the weekly chart however there has been no real damage yet. It would need to fall much further to break the uptrend which has been in place since 2012.

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Day Trader column for March 11 - 2014

Last week’s close was the highest close since 2008. After a fall on Monday the previous weeks move down was reversed, and Wednesday’s move was a clear daily pivot point to the upside on increased volume. This looks positive for a further move up.

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Day Trader column for March 4 – 2014

The All Ords slowly moved back towards the 5,400 level last week and a daily pivot point to the upside from here will signal a move to the next resistance level between 5,800 and 6,000. These targets are based on several chart patterns dating back to 2008, so I am confident enough of the move that I will be putting more money into the market this week.

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Day Trader column for February 25 – 2014

Our market again had a strong move up last week and closed the week at its highest weekly closing level since mid 2008.

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Day Trader column for February 18 – 2014

Last week we saw the weekly pivot point form. And it was accompanied by stocks from across the board setting up move higher.

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Day Trader column for February 11 – 2014

After another volatile week, last Friday saw the All Ords close the week just fifteen points lower than where it started after falling one hundred and thirty points to 5,072 mid- week. The fall last week reversed thirty five points above the 5,038 support level noted last week.

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Day Trader column for February 4 – 2014

Apart from the seventy point intraday fall and close down by sixty five points last Tuesday the All Ords spent the rest of the week trading within the range of Tuesdays fall. Last week’s was just above the strong support level of 5,200. However, the January spike low has been broken and most of last week’s trading was below that level. Now there is a strong possibility the December low of 5,037, which is the next support level will be tested.

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Day Trader column for January 28 – 2014

The weekly pivot point to the upside I am looking for did not form last week. As mentioned last week it will require a weekly closing price on the All Ords above 5,328 without the index trading below 5,215 for the weekly pivot point to occur. That said, the market appears to me to be building up for a move to higher levels, but that is still in the balance.

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Day Trader column for January 21 – 2014

Our market had a roller coaster ride last week. After the weekly pivot point to the downside the week before last, the big fall early last week was reversed on Wednesday, and by Friday the market closed at the same level as the previous Friday.

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