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 31 - 2016

Last week the S&P/ASX 200 closed above the 5,400 level for the first time in almost a year and above the spike high formed in October last year. These have both been major resistance levels and a weekly close above them for both indices and the SPI futures looks promising.

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Day Trader column for May 24 - 2016

Another interesting week as our market continued to inch higher on the weekly chart. However the indecision remains, as seen on the weekly chart by the highs and lows for the week being well above and below the open and close for the week.

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Day Trader column for May 17 - 2016

This week it will be interesting to see if the All Ords can close the week above 5,400. I have my doubts that will happen as the market for the past four weeks, or since it formed a weekly pivot point in mid-April has closed every one of the four weeks well off its high for the week.

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Day Trader column for May 10 - 2016

It finally looks like the downtrend in our market, which has been in place since early last year has reversed. The downtrend line was broken after a weekly pivot point four weeks ago. This was followed by a pull back on the daily chart two weeks ago and Tuesday last week a daily pivot point to the upside indicated to me a new uptrend was in place.

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Day Trader column for May 3 - 2016

Last week was a mixed week for the indices as they fell for two days and recovered for the last two days of the week to finish up slightly on the previous week. However, the interesting thing was that there was a divergence between the ASX/S&P 200 and the SPI futures contract.

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Day Trader column for April 26 - 2016

The downtrend was finally broken last week. All three indices, the All Ords, S&P/ASX 200 and the SPI contract all broke above the downtrend, so perhaps the uptrend is now in train.

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Day Trader column for April 19 - 2016

Maybe a glimmer of optimism has finally crept back into our market. Last week was a clear weekly pivot point to the upside and all the indices managed to close just above their respective downtrend lines, which have been in place for the past year. For the first time in quite a while, the gap between the indices as discussed in previous columns has closed a little.

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Day Trader column for April 12 - 2016

So much for the downtrend losing momentum! Last week the move down on the All Ords traded below the 5,000 level on three separate days but on Friday managed to close above 5,000. Friday’s price action was a reversal to the upside, but I suspect we may just see a small retracement before another attempt to close below 5,000. The more it dances around this level, the more likely we are to see it break below it.

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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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