I am not even so sure they are buying stock . . . think they are writing calls and puts like crazy . . . think derivatives are more active than the underlying . . . is there not a divergence in stock prices and the indexes right now? Have not done the research but I bet most S&P 500 stocks are underperforming the SPY . . .
QE money is going to investment bankers who were told to use it to buy Dow 30 and S&P 500 stocks. You realize institutions like Goldman Sachs, JP Morgan, Bank of America ect can go the Fed discount window and borrow money at 0%, and use that to buy stocks like DIS, GE, T, ect for the 2% plus dividend.....FREE MONEY in the truest sense of the word.