Stocks on the barbie

While most industry watchers readied themselves for the long, cool summer, the biotech market is setting a pistol-hot pace for the summer months. The BioCentury 100 has soared 59 percent in the six weeks between the Friday before the U.S. Memorial Day holiday through the Friday following the American Independence Day break - its best performance over that six-week period since the index was launched in 1993.

"A month ago a lot of the analysts were making the call that the summer would be slow and investors should use the summer months to purchase shares at lower prices before people start buying again in September, but it doesn't look like its going to be a quiet summer," said Anders Hove of BB Biotech. "A lot of the stocks are hitting new highs."...