Closing Bell: Decoupling of inverse dollar and stock relationship (POT, CHTT, ETFC, ATHX, V, BIIB)

Potash Corporation (POT) rose today after last week's weakness on a Goldman Sachs upgrade this morning noting. raised the ratings this morning. Shares were up 3.5% at $108.70 late in the trading day.

Chattem Inc. (CHTT) rose sharply as one of the top gainers on the day after Sanofi-Aventis agreed to acquire it for $1.9 billion. Shares were up 33% at $93.16 before the closing bell.

E*TRADE Financial Corporation (ETFC) was lower on what should be good news. Industry veteran and board member Robert Druskin was named Chairman & Interim CEO effective as of December 31, 2009. The problem is that this may change whether it is a buyout stock or not. E*TRADE shares were down 1.7% at $1.75 late in the day, above the $1.69 level originally after the news.

Athersys Inc (ATHX) was an exponential gainer today on its pact with Pfizer (PFE). Traders continue looking for what they hope can be the next ten-bagger in micro-cap low-priced biotechs. Shares were up 145% at $2.47 late in the session, down from a high of $3.95.

Visa Inc. (V) saw a give-back of 2% to $87.20 late in the trading session despite an up-day and despite a positive brokerage firm initiation. This is profit taking after a near-10% gain from it being an S&P 500 Index addition last week.

Biogen Idec Inc. (BIIB) was up on somewhat active stock options trading based on a Najarian tout about takeover rumors, but this looked to be more like options rolling out after expiration than anything sinister as Biogen was already once unable to score real buyout interest. Shares were up 2% at $51.07 right before the closing bell.