According to the Eddas, the poetic saga of the Norse Gods, the Runic alphabet was a gift from Odin. The word 'rune' means 'wisper,' or 'secret wisdom.' A selection from the Eddas tells of their discovery. Odin hangs for nine nights upon the world tree, wounded, without food or water; finally, he sees the reflection of the runes in the water:
"Wounded I hung on a wind-swept gallows
For nine long nights,
Pierced by a spear, pledged to Odhinn,
Offered, myself to myself
The wisest know not from whence spring
The roots of that ancient rood.
They gave me no bread,
They gave me no mead,
I looked down;
with a loud cry
I took up runes;
from that tree I fell."
The runes originated around 200 B.C.E., as magical symbols engraved in stone; they were developed into the first Rune alphabet, the "elder" Futhark ('futhark' being a transliteration of the first six letters), an alphabet of twenty four characters. Many permutations and revisions over the years produced several variants, including the 'elder' and 'younger' futhark, and the Danish "short twig" script. Eventually, the sixteen character alphabet became the most commonly used.
An epic "Rune poem," written in Old English around 1000 C.E., outlined the metaphorical and divinatory meanings of the characters, which at that time numbered at thirty three.
The following table gives the characters of the Elder futhark and their divinatory meanings:
| Rune: | name: | divinatory meaning: |
 | Fehu | Money, finances, possessions; material goods or wealth |
 | Uruz | Strength; virility |
 | Thurisaz | Gateway, beginning |
 | Ansuz | A message or signal, a secret; speech |
 | Raido | Travel, sojourn, movement |
 | Kaunaz | Openings, shedding light on something, fire |
 | Gibo | A gift or blessing, partnerships |
 | Wunjo | Joy; happiness, illumination |
 | Hagalaz | Disruption, chaos, shattering of illusion |
 | Nauthiz | Pain, confinement, limitation |
 | Isa | Inaction |
 | Jera | Fertility, harvesting, returns; reaping what you've sown |
 | Eihwaz | Protection, defense; also withdrawl or barriers |
 | Perth | Secrets, initiations, occult or hidden things |
 | Algiz | Defense, protection |
 | Sowelu | Completion, perfection |
 | Teiwaz (Tyr) | Victory, conquest |
 | Berkana | Renewal, rebirth, new beginnings |
 | Ehwaz | Overcoming barriers, movement, progression |
 | Mannaz | The self, humanity |
 | Leguz | Water, sea, motherhood; intuition |
 | Inguz | Fertility, birth, beginnings |
 | Dagaz | Sunlight, enlightenment |
 | Othela | The home, hearth, possessions |
There are several methods used to divine with runes, some involving complex preparations. I've outlined a simple method you can try with a minimum of fuss.
The first step is to obtain a set of runestones. The preferred material for a set of runes is wood from a nut or fruit bearing tree, but stones are available made of many materials. It is also fairly simple to construct your own set by carving or painting the characters on chips of wood, or painting them on stones or glass tiles.
Next, find a flat, clean surface on which to carry out your divination- a table top or altar is ideal. Have with you your stones, a bag or a container you can fit your hand into, and something to record your results. Take some time to relax and meditate on your query, then draw three stones in succession and lay them face down in a row on the table.
The first stone represents the past nature of the situation, the backdrop, if you will. It may be a person, place, or circumstance, depending on which character appears. For instance, Raido can refer to a physical journey, or a spiritual path; etc.
The second stone is the present or the near future, finally the third is the outcome of the first two- the possible future. Write down your impressions, you may recieve further insights or even dreams which may help to further interpret the reading.
(about.com)