It is possible that pharmaceutical group stock momentum could carry (Lilly) higher, but we believe the risk/reward warrants a neutral rating.

It's too much risk for too little reward.

With payrolls so close, people are looking at risk/reward and deciding to be safe.

From a risk-reward stand point, there's very limited down side here. You have to remember many of these oil companies are stocks are basically at 12-month lows. They were at these levels when oil prices were at $11. What you have right here, it is a momentum market....[and] once you start to see the oil price consolidate, you come in in full force and frankly, you can start to pick some of these names up right now.

We anticipate a relief rally for pharmaceutical stocks.

Instead, it was driven by the core business and a lower tax rate.