'Fast Money' Recap: Market Moves Higher Again

The markets ended up Tuesday as money continued to flow in from the sidelines.

The Dow Jones Industrial Average was up 19.43, or 0.22%, to 8,740.87, while the S&P 500 rose 1.87, or 0.20%, to 944.74. The Nasdaq rose 8.12, or 0.44%, to 1,836.80.

Joe Terranova said on CNBC's "Fast Money" TV show that funds are flowing into the market. He said underperformers did well today, especially biotech names such as Celgene(CELG Quote), which was up 3.94%, and Genzyme (GENZ Quote), up 2.58%.

However, he said to be cautious because the some of the early leaders of this rally have given up ground such as the financials, energy and basic materials.

He said just how quickly the financials can get back will depend on their ability to return to "normalized" earnings.

Matthew Albrecht, a S&P analyst, said small and regional banks definitely will find it more difficult to raise capital than the larger banks because they are more focused on the consumer, a situation he finds troublesome.

By contrast, he said, the larger banks are in a much more stable situation because they have eliminated preferred dividends, developed a common equity share base and taken steps to eliminate pay constraints.

Still, he sounded a cautionary note, when he said the financials are fully priced for this kind of environment.

Melissa Lee, the moderator of the show, noted that oil, which has been on a tear, declined today, sparking bearish sentiments. Guy Adami said one way to be bearish on crude is to be long on an airline like Jetblue(JBLU Quote). He agreed with Karen Finerman that another option would be to short crude.