6 geese lay monday , page-167

Once again, the fallacy of attributing market movements to news events, in this case the death of Kim Jong Il.

Personally, I can't think of anything more far-fetched than the death of one of the world's last dinosaur, supressive despots, being responsible for our market losing 2.3%.

As our market was closing weighed down by absolute panic in the retail sector, China---North Korea's benefactor-- was rallying, stacking on 60-points off the lows.

Down 0.3% after being a fraction off green.

Hong Kong down 1.18%, Japan -1.26%

XJO down 2.3%

Kim Jong Il? I don't think so.