Gold Rallies on Economic Uncertainty

SPDR Gold Shares (GLD) rallied to a three month high today on fear the economy will get worse before it gets better. The ETF which strives to stay inline with the price of Gold Bullion moved from $73.45 a share to an intra-day high of $98.99 share over the past three months as investors seek security.

Huntington Bancshares Inc (HBAN) Tumble

Huntington Bancshares fell dramatically today to near $1.30 a share from a high of $13.58 during the previous year. This prices the company at $479 million in market cap. Quite a demise for the mid-west bank known for assisting companies and metropolitans across the regions it operates in with numerous projects and expansions.

Strong Call Volume for Wellpoint Inc (NYSE:WLP) Friday

Wellpoint Inc (NYSE:WLP) saw strong Call Option buying on Friday with 17,535 contracts traded for the month of February at the strike price of $45. The stock itself finished the day up slightly at $43.75. These options expire at the end of the week prior to the company’s February 22nd earnings announcement. The managed care company could continue to move higher prior to the release of their earnings announcement but beating the current $1.24 estimate is not a given.

Myriad Genetics, Inc. (Nasdaq: MYGN)

Myriad Genetics is a medical diagnostic company that produces a number of molecular diagnostic and therapeutic products for the health care sector. The company reached a new 52 week high today with the market falling close to 5%.

National Semiconductor Corp. (NSM) Options Activity

National Semiconductor rallied 4.5% on Friday but underneath the decent stock performance remains weak fundamentals and strong Put Option buying in a number of months going forward. Not a whole lot of news no the day but the overall market was rallying and some beaten down stocks moved higher on hopes that the economy will begin to recover.

Solid Week for the Markets

With the Obama administration sworn into office and their stimulus bill already past one house of congress and close to passing in the Senate, the US stock markets rebounded nicely off relative lows this past week. If the markets can break higher the first part of this coming week, a bottom formation will be in and the markets could rally for a longer period of time.

Lam Research Corporation (NMS: LRCX)

Lam Research Corp has come under selling pressure that last two days with analysts downgrading the company after disappointing 2nd quarter results and poor guidance for the 3rd quarter from the semiconductor processing equipment maker. Analysts were already expecting weakness with sales growth for the year in the negative 50% area. Earnings are expected to tumble 100% compared last year's results.

Barclays (NYSE: BCS) Jumps after Recent 50% Fall

Investor's were looking for writedowns on bad assets and Barclays PLC (NYSE: BCS) gave them what they were looking for. And investor's bought the shares in abundance today running them higher 61%. The shares had fallen near 50% in the past 10 days on fears that losses would widen and a government takeover as eminent. What really shocked everyone was the amount of profit the bank is looking to report even after massive writedowns of $11.3 billion. The bank now feels it will earn $7.3 billion for the year.

Stocks Collapse Post Inauguration

What started out as a mildly weak day turned very much more negative after the Inauguration completed shortly after lunch. Stocks steadily declined all afternoon finishing sharply lower, 4% for the Dow Jones Industrials, near 6% for the Nasdaq, and 5.25% for the S&P 500. Financial's were the weakest of all the industries with questions about Citigroup and Bank of America still creating weakness across the board.