Leaders Index 9-26

The market rallied today basically on news that the parties in Europe were talking. If is funny how people can react like this to almost meaningless rumors. The major averages were up between 1.5% and 2.5% and closed near the highs of the day. Volume was about flat on the Nasd and lower on the NYSE so the wasn't much punch in this rally. The institutions were apparently not heavy players. Leading stocks barely budged as the leaders index rose only .18%, but it did close strong. Volume was good as it rose from Friday's level and was above average. This seems to be just more reaction to the latest news or rumors out of Europe and as far as I can see is not much to get excited about. Jerry