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Biotech’s Biggest Weekend

This weekend the biggest cancer killer (and one that's often overlooked because it moves so tragically fast) will be the focus of the annual American Society of Clinical Oncology or ASCO meeting.

We’re talking about lung cancer, explains CNBC Pharmaceuticals Reporter Mike Huckman. Look for headline-grabbing test results out of ImClone as well as more details from Lilly on Alimta, its drug for lung cancer.

Also keep an eye on Genetech , he says for two reasons 1) because the lung cancer data could have an impact on one of their drugs and Genentech should also deliver news on a breast cancer treatment.

In addition, Celgene is another name to watch but keep in mind shares rallied when most of its study results were released two weeks ago.

Tomorrow's Trades #3

I suggest watching OSI Pharmaceuticals , adds Pete Najarian. As well as Biogen and Elan .

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Trader disclosure: On May 28, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (INTC), (WMT), (MSFT); Adami Owns (C), (GS), (INTC), (MSFT), (AGU), (NUE), (BTU); Najarian Owns (AAPL), (BHI), (BUD), (TSO), (XLF), (HPQ), (ANR), (ENER); Najariain Owns (EXPE) Calls; Najarian Owns (BAC) Puts; Finerman Owns (GS); Finerman's Firm Owns (AAPL), (AEO), (MSFT), (RL), (SUN), (TSO), (VLO), (WLP); Finerman's Firm Owns SPX Index Puts; Finerman's Firm And Finerman Own (C) And (C) Leaps; Finerman's Firm And Finerman Own (HD); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY), (BBT)