'Fast Money' Recap: The Rally: Unhealthy Signs?

The markets were buoyed Thursday by the global relief package from the G-20 meeting and relaxation of mark-to-market accounting rules.

The Dow Jones Industrial Average jumped 216.48, or 2.79%, to 7,978.08, while the S&P 500 added 23.30, or 2.87%, to 834.38. The Nasdaq climbed 51.03, or 3.29%, to 1,602.63.

Melissa Lee, the moderator of CNBC's "Fast Money" TV show, said the rally was influenced by the G-20's "money party" and positive economic news out of China that sent materials and commodity stocks soaring.

Guy Adami said the rally is still intact as money is being put back to work.

But Jeff Macke had reservations about the rally because it represented "capitulation" from those investors who felt they missed the rally and were desperately chasing stocks. "We're 25% off the low's and we're making a big deal that the bottom might be in."

Karen Finerman said she wasn't chasing anything in today's market. She said the markets were helped by comments by Ken Lewis, the CEO of Bank of America(BAC Quote), who did a pretty good job of making the case that the end is not here for his bank and many other big banks.

JJ Kinahan said the volatility index, which remained high, is not a believer in this rally, especially with the national unemployment numbers coming out on Friday.

Adami said the strong action in the commodity markets is telling you that the money is moving into real and soft commodities as well as equities and out of fake commodities like gold. He said it was important to note that gold was down while the dollar was being "obliterated."