The NASDAQ and the SOX continue to float upward towards their 50-day moving averages on light volume. That kind of action is not very inspiring. It's been pretty boring this week except for the drama in the education stocks (ESI) and all the biotech action. There's been a lot of good news on the cancer drug front from the likes of BIIB, IMCL, and DNA. That sector, as defined by the Biotech HOLDRS (BBH) is looking great. It hit a new 3 year closing high today.
