Cramer's 'Mad Money' Recap: March 26

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"This rally isn't just about buying. It's about panic," Jim Cramer told the viewers of his "Mad Money" TV show Thursday

He said the hedge fund managers, once short the market, are now a pack of wild bees, running in the same direction as they try to escape the market's upward momentum.

"There's one thing you can count on," said Cramer, "and that's fund managers moving as a group." But fortunately, he said, the mutual fund managers and the hedge fund managers, move in different groups.

Cramer said the battleground is the tech stocks, which have rallied hard as the mutual fund managers bought everything in sight, trying to get long before the first quarter ended.

The hedge funds, however, have been shorting this group, he said, but are now being forced to jump on board, adding fuel to the already raging fire.

Cramer said the outlook for tech is indeed rosy, with many gadget and gizmo makers having cut inventories too far, and are now scrambling to meet demand.

Many techs also benefit from a weak dollar and are trading at historically low multiples, he said.

According to Cramer, the big winner in tech is Qualcomm (QCOM Quote), a stock which he owns for his charitable trust, Action Alerts PLUS.

Also on Cramer's list of the big fund managers' buying list are Corning (GLW Quote), Marvel Technologies (MRVL Quote), Apple (AAPL Quote), BMC (BMC Quote), Nvidia (NVDA Quote), IBM (IBM Quote), Broadcom (BRCM Quote), Google (GOOG Quote), Yahoo (YHOO Quote) and EMC (EMC Quote).