Stricker's two-day total of 14-under 126 was two shots better than the previous tournament record set by Kenny Perry when he won the event in 2005. It was also only one shot off the all-time 36-hole PGA Tour record.
On another calm day at the Colonial Country Club, Tim Clark fired a 64 to finish two rounds at 127. Vijay Singh, who has struggled since undergoing shoulder surgery earlier this year, also had a 64 and was at 128.
Singh, who has won more tournaments after turning 40 than any other player in tour history, holed a 60-foot bunker shot for birdie at the par-4 seventh to highlight his round.
Quail Hollow Championship winner Sean O'Hair (64) was fourth at 129, one shot better than Jason Day.
Stricker birdied the last three holes on the front nine and the last two holes on the back nine.
"It's been good to say the least," said Stricker. "I kept the ball in play very well, giving myself a lot of opportunities."
Woody Austin finished at 131 to stand alone in sixth place and Ryan Palmer was seventh at 132.
Among those missing the cut at even-par 140 were Davis Love III and 2008 Masters champion Trevor Immelman. Adam Scott, who had missed the cut in his previous six events, survived to play the weekend with a 139 total.
Chad Campbell was at 5-under when he suffered a leg injury while making an awkward swing on the 17th hole. He was in obvious pain while being helped off the course.
Copyright 2009 by United Press International.
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