Schaeffer's Daily Market Blog Features Amylin Pharmaceuticals, Lehman Brothers, Altera, Ericsson, and Sirius Satellite Radio.

CINCINNATI -- Among the stocks featured in the January 12 edition of Schaeffer's Market Blog are Amylin Pharmaceuticals (NASDAQ:AMLN), Lehman Brothers (NYSE:LEH), Altera (NASDAQ:ALTR), Ericsson (NASDAQ:ERICY), and Sirius Satellite Radio (NASDAQ:SIRI). Schaeffer's Market Blog is just one of the many free market commentaries written everyday at www.SchaeffersResearch.com - the home of Bernie Schaeffer and Schaeffer's Investment Research. The Market Blog is written throughout every trading day by Schaeffer's financial analysts and traders. They are quick insights to the day's most notable market activity from an options perspective. For additional information about this report or to have it delivered to you free via email every day click on the following link. http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB12M&PAGE=1 .

Schaeffer's Market Blog for Thursday, January 12, 2006:

Below are just a few of today's Market Blog entries. Click here to read all of today's Market Blog. http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB1C&PAGE=1 .

7:59 AM NYSE & NASDAQ New Highs/New Lows with Equity Scorecard

The market got back on its winning ways in Wednesday's trading with the S&P 500 Index (SPX) gaining 0.35 percent while the Nasdaq Composite (COMP) gained 0.48 percent. The number of new annual highs outnumbered the number of new annual lows 510 to 50, respectively.

Two stocks on our list, available by visiting our website, are Amylin Pharmaceuticals (NASDAQ:AMLN) and Lehman Brothers (NYSE:LEH).

11:03 AM Puts Pile for Altera

Yesterday, puts traded actively on Altera (NASDAQ:ALTR), as put volume was six times heavier than average. Nearly 6,900 contracts crossed the tape, with the most active being the February 20 strike (LTQ ND). Investors exchanged more than 5,300 LTQ ND contracts yesterday. A check on today's open interest configuration reveals that about 4,900 of these contracts translated into new positions of open interest today.

With the stock trading at $19.51, this could be a market player either hedging a position or making a bearish bet on ALTR ahead of its earnings report. The company is schedule to release its quarterly earnings report January 18th after the market close, with analysts calling for earnings of 19 cents per share. ALTR has topped earnings estimates in each of the past four quarters.

12:08 PM Ericsson Downgraded as it Approaches Overhead Resistance

This morning before the market open, Deutsche Bank downgraded shares of Ericsson (NASDAQ:ERICY) from "hold" to "sell," citing concerns over a "worsening business mix." A check on the overall financial analyst view of the equity reveals that financial analysts do not have high expectations for ERICY. According to Zacks, there are now eight "buy" ratings, eight "hold" ratings and one "sell" rating on the stock.

Technically speaking, ERICY was set to make a run at overhead resistance. This morning's downgrade, however, has sent shares of ERICY more than three percent lower to $35.72.

2:28 PM Karmazin Buying at Sirius

The touted Sirius Satellite Radio (NASDAQ:SIRI) CEO Mel Karmazin bought 1 million shares of its own common stock at $6.21 this morning. The move comes after investors grumbled over the whopping $225 million stock gift Howard Stern and his agent received this week for helping the satellite radio player hit subscriber targets. In October Stern signed with Sirius for a five-year contract valued at more than $500 million. But revenue and subscriber growth targets written into his contract have boosted his pay by $125 million. SIRI registered the shares for resale Wednesday, leading to the rumors of Stern selling. Most analysts expect Stern to sell some of his shares to cover the $90 million in taxes he paid thanks to the stock gift.

The above are just a few of today's Daily Market Blog entries. Click here to read all of today's Daily Market Blog. http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB1C&PAGE=1 .

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About Schaeffer's Investment Research (www.SchaeffersResearch.com)

Schaeffer's Investment Research, founded by Bernie Schaeffer in 1981, is a financial information and trading resources company. It publishes Bernie Schaeffer's Option Advisor, the nation's leading options subscription newsletter. The firm's contrarian approach focuses on stocks with technical and fundamental trends that run counter to investor expectations. The firm's website, http://www.SchaeffersResearch.com , is recognized as one of the leading information sources for stock and options traders and was cited as the top options website by both Forbes and Barron's. Click here for more details about Schaeffer's trading methodology: http://www.SchaeffersResearch.com/method .