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 December 09 – 2009

Last Friday put paid to a weekly pivot point forming for the week. Had the All Ords closed near Thursdays close we would have seen the pivot point form.

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“Day Trader” column for December 02 - 2009

My cautious approach to the market, as my lack of buying and maintaining and selling on tight stops over recent weeks has indicated was vindicated by last week’s price action.

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“Day Trader” column for November 25 - 2009

Although we had a weekly pivot point to the upside the week before last, we have not seen the daily pull back reverse as of the end of last week.

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“Day Trader” column for November 18 – 2009

Last week I wrote of needing a weekly pivot point to form to the upside, after the reversal candle of the previous week.

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“Day Trader” column for November 11 – 2009

Last week the All Ords fell to touch the uptrend line on the semi-log chart that has been in place since March this year.

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“Day Trader” column for November 04 – 2009

Last week we saw the first leg down of the retracement – consolidation I have been expecting. If the five point reversal on the daily chart plays out in full, then we can expect the All Ords to retrace to between 4,200 and 4,300.

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“Day Trader” column for October 28 – 2009

Our market virtually marked time last week and I expect it will soon have a pull back to consolidate for a while before moving to break the 5,000 resistance. Consequently I still have a large percentage of my portfolio in cash.

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“Day Trader” column for October 21 – 2009

The five point reversal discussed last week is still in place and as the market moved higher for the week the new target for the pattern (if the market reverses from last Friday’s high) will be just below 4,300 which is also a spike low support/resistance level formed in August.

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“Day Trader” column for October 14 – 2009

Our market had a good run up last week, but on Friday formed a reversal candle and in the process also formed a five point reversal pattern indicating we could see a pull back from this level.

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“Day Trader” column for October 07 – 2009

Tuesday last week the market behaved as though it was beginning the final assault on the 5,000 level, but when it did not go on with the job on Wednesday and the chart for the SPI Futures contract formed a clear reversal it put doubt in my mind and when Thursday closed well down and there was another reversal on the Futures contact it was clear we were going to see at least a short term correction.

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