Biotech and Drug Stocks Are Hot

Includes: ELN, MNK, MYL, SRPT
by: Jeff Pierce

I’m seeing strength in the biotech area and drug stocks. Below (click on each chart to enlarge) are a few names that are breaking out in a big way and I feel are worth watching: Elan (NYSE:ELN), Mylan Labs (NASDAQ:MYL), AVI Biopharma (AVII) and Questcor (QCOR).

The market continues to be resilient and while the markets were down Friday, the afternoon bounce continues to define this rally.