As the bringer of doom, gloom and potential yellow shoots, I eagerly await an economic report for the first time in ages. The last 3 months of reports have been meaningless – all I know is when it’s bad news ignore it (it’s backwards looking anyway), buy stocks. And when it’s better than expected it is no longer backwards looking… and you should buy stocks. As gas prices surge higher, I buy consumer discretionary stocks. When interest rates jump, I buy consumer discretionary stocks. Notice the theme? Just buy stocks.

But today I wave a potential yellow shoot – the weekly MBA mortgage report.

We’ve spoken at length in multiple posts about the Ben Bernanke manipulation… err, assistance to interest rates and summarized late last week in [May 29: Bloomberg – Bernanke Bid to Lift …