Many professional traders and investors suspect that the large major banks buy the major stock indexes just before the Federal Reserve Bank initiates their daily permanent open market operation (POMO). It is suspected that often the large major banks such as J.P. Morgan Chase and Co.(NYSE:JPM), Bank of America Corp.(NYSE:BAC), Wells Fargo & Co.(NYSE:WFC), and Citigroup Inc.(NYSE:C) simply buy the market leading stocks such as Apple Inc.(NASDAQ:AAPL), Exxon Mobil Corp.(NYSE:XOM) and others which help to inflate the stock markets and cause rallies nearly every trading day.
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