The tech-stacked Nasdaq is a flirt. After Friday's swoon, it teased traders with Monday's gains.

While everyone eyed its sagging bottom, the Comp wiggled back into positive territory and continued to bounce smartly after hours.

The brick-like panic selling that weighed on the market Friday lightened up, allowing both the

Dow

and the Nasdaq to yo-yo back. Encouraged by a strong close, lead by semiconductor momentum buying, the Comp regained half of Friday's losses. The technology-friendly buying spree bled into the night, with

BroadVision

(BVSN) - Get Report

gaining 2 5/8 to 28 15/16 on 110,000 shares on

Instinet

and

Applied Micro Circuits

(AMCC)

popping 3 5/8 to 108 1/4 on 16,000 shares on

Island

.

Altera

(ALTR) - Get Report

garnered the most confidence late night, after gaining 15 7/8, or 22%, during the day. It traded 3 57/64 higher to 88 1/2 on 60,000 shares on Island and up 4 3/16 to 88 5/8 on 850,000 shares on Instinet.

Cisco

(CSCO) - Get Report

, which tacked on 17% on 116 million shares in the day session, and was the

Nasdaq Stock Market's

most active on the third-heaviest day of trading in the exchange's history, continued its ascent at night. It rose 1 1/4 to 67 3/4 on 430,000 shares on Instinet.

Four companies of the major companies that released earnings after the close all beat expectations.

Texas Instruments

(TXN) - Get Report

, manufacturer of the chips used in about two-thirds of the world's digital cellular phones, reported earnings of 55 cents a share, beating

First Call/Thomson Financial

estimates of 53 cents but missing the "whisper" estimate of 57 cents. The company closed at 149 and remained flat during after-hours trading, according to Instinet.

Protein Design Labs

(PDLI) - Get Report

beat analyst estimates of a 4-cent loss, instead reporting earnings of 4 cents a share.

Wit Capital

(WITC)

posted earnings of 8 cents a share, beating analyst expectations of 2 cents. The good news lifted the company's stock 2 1/16 to 12 1/4 on 21,000 shares on Island.

Internet portal

Go2Net

(GNET)

announced earnings of 18 cents a share vs. the 11 cents expected. The Internet company saw profits soar from 3 cents a share a year earlier.

While

Rambus

(RMBS) - Get Report

played nicely with others during the day, gaining 4 3/4 points to 160 15/18, night traders sent the volatile stock to the corner. It coughed up 2 1/16 points, falling to 158 15/16 on 13,000 shares on Island only to recover 4 points to 165 on 15,000 shares, an hour later.

So those good earnings and solid tech-led gains have transformed the tentative optimism of the day session into night-time euphoria. Late-night lurkers sent 19 out of the 20 most active stocks higher on Island, while boosting 17 out of 20 stocks on Instinet.

This information is provided by Instinet, a wholly owned subsidiary of Reuters (RTRSY) . For further information, please contact Instinet at www.instinet.com.

Island ECN, owned by Datek Online, offers trading, mainly in Nasdaq-listed stocks, from 8 a.m. to 8 p.m. EDT.

Confused?

TheStreet.com

explains how the rules change when the sun goes down in Investing Basics: Night Owl, a section devoted to after-hours trading.