"I let it slip at the end," Alker told the PGA Tour website. "That's the type of golf course it is."
"It's fun. I haven't been in this position all year," he said. "A bad finish but a lot of positives. It's a good thing it's not Sunday. That would be bad."
Alker's first season on the PGA Tour since 2003 has been a struggle but a solid finish this week would push him up the FedEx Cup standings, where he currently sits 183rd, which would help him get more starts as the year progresses.
Manawatu's Tim Wilkinson made the cut in Memphis with another round of 70 today and he is at even par for the week in a share of 53rd. The left-hander began the week in 181st on the FedEx Cup standings.
Danny Lee, who has qualified for next week's US Open and is the best-performed Kiwi on tour this season, has taken this tournament off as he prepares for the major.