Market close: Bargain hunters ignite Dow, techs

Bargain hunters gobbled up beaten down technology stocks Thursday as the Nasdaq composite shot up 122 points to 3,777.89. The Dow Jones industrial average stormed up 196 points to close at 10,824.43.

Part of the rally can be attributed to fund managers doing a little end-of-the quarter window dressing.

"The perception has to be that there is a whole lot of value out here, some stocks are extremely oversold," said Charles Payne, head analyst at Wall Street Strategies.

Cisco Systems Inc. picked up $2 to $59.31 and Nortel Networks gained $3.37 to $62.99 despite a downgrade from Sanford Bernstein. Full story. -- Larry Barrett, ZDNet Inter@ctive Investor