BogeyIn the last hour abx has outperformed your kl. You should have sold your kl and bought my abx. What you lost by not doing that you will never be able to regain again as you could have switched back to kl when it outperforms abx at some point later today.
Does that make sense to you? Its the same analogy as you presented me but just over a shorter time period. It all depends on how you look at things at what your time horizon is.
Joey