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 December 7 - 2018

As I explained last week the direction of the market should have been known by the end of trading last Friday and after the indecision on Wednesday last week, that indecision was resolved when the market dived last Friday.

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Day Trader column for November 30 - 2018

Last week the All Ords, ASX/S&P 200 and the SPI all formed classic reversal patterns on the weekly chart and in the process made a new low for the move down since Late August this year.

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Day Trader column for November 23 - 2018

Our market is in a precarious position at the moment. As of Wednesday, when this is written, the October spike lows formed on the All Ord, ASX/S&P 200 and the SPI Futures had been broken intraday but all three failed to close below the previous spike low.

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Day Trader column for November 16 - 2018

Last week the SPI actually formed a weekly pivot point to the upside, but the ASX/S&P 200 failed to close above the high of the low week and therefore did not form a weekly pivot point to the upside.

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Day Trader column for November 9 - 2018

After a strong start last week our market ran out of steam on Thursday and Friday. As a result it did not come close to forming the elusive weekly pivot point to the upside.

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Day Trader column for November 2 - 2018

The weekly reversal formed the week before last and discussed in last week’s column was not able to arrest the fall. Last week the fall was relentless and was not arrested until it met the uptrend line which has been in place since 2009. It will be interesting to see whether this line holds and the uptrend resumes.

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Day Trader column for October 26 - 2018

As I expected the close last week saw the All Ords form a classic reversal pattern when it closed the week almost at its high for the week. For a weekly pivot point to form, the first requirement is that it does not trade below last week’s low of 5,909. We will then need to see it form a weekly close above last week’s high of 6,050.3.

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Day Trader column for October 19 - 2018

The All Ords reversed the move down right on cue at 5,900 on Monday this week. This was right on the projected targets and the uptrend line drawn from the early 2016 low mentioned last week. The gap between the SPI futures and the ASX/S&P 200 had slowly started to narrow on Wednesday, which is another positive sign.

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Day Trader column for October 12 - 2018

The price action since Wednesday last week certainly confirmed the move down from the rising wedge I have discussed over the last couple of weeks. This move down on the All Ords will now either find support around 6,100, or if that is broken then 5,900 is the next strong support/resistance level.

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Day Trader column for October 5 - 2018

Finally our market fell from the rising wedge formed over the past three weeks, since the 260 point fall at the beginning of September. I do not want to buy into this market at the moment, so I will continue to stay on the sidelines unless I see a really good setup and chart pattern to go with it.

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