'Fast Money' Recap: Behind the Four-Day Rally

Terranova agreed but warned that bear markets rallies are "always violent." However, he said the market momentum is "clearly moving higher."

Jeff Macke was skeptical of the movement of the rise of some stocks. He predicted the federal government will wind up dumping money at the problems of General Motors(GM Quote). "That's not a reason to be bullish about GM," he said.

Black Friday

Ratigan asked Finerman to comment on what he called the "anemic" retail outlook going into the start of what is traditionally the holiday shopping season.

Finerman talked about the disconnect she's seeing in Macy's(M Quote) between the stock and its debt situation.

She noted the stock, which has traded around $5, has a market value of about $3 billion or so while carrying some debt with a yield of more than 18%. "Either the equity is too expensive or the debt is too cheap, or a little bit of both," she said.

The Home Stretch

The panel was split on whether the market was going to be higher a month from now. Jon Najarian said he sees the Dow in the 8,000-to-1000 range for the rest of the year.

He said he would be trading in this range, adding he liked Ryland Group(RYL Quote) and Centex(CTX Quote). He also sees trading opportunities in gold and silver mining stocks.

In another hopeful sign, Najarian sees the volatility index heading down to the mid- to high 40's.

High Hopes for Apple

Gene Munster, an analyst for Piper Jaffray, believes there is room for Apple(APPL Quote) to trade higher. That's good news to investors who has seen the share price off 52% so far this year.