Alpha...

Market is down nearly 1% and I am down 0.5 to 0.8%.  That to me is still alpha.  And some gold stocks are green in colour!

But the market is dynamic... it can change again in the arvo and bring misery to me!

And then tomorrow, if there is some minor news, anything can happen.  At this stage, in the short term, there is no logic.  The tapering of QE2 is not a recent announcement so you wonder why the market is responding as though it has not heard it before.