Anyone want to bet on tomorrow's non-farm payrolls report?

Me, I'll say negative 900,000. T'would be braver, of course, to join the folks in the negative seven figure camp as Macroman mentioned this morning (Macro Man suspects that more than a few entries in office pools will be looking for seven-figure job losses.)

Why 900,000? Because:

1. ADP is still pretty darn inaccurate, but even they are at 700,000
2. The consensus forecast is at ~700,000 as well, and if we know anything, the consensus forecast is always wrong to the upside. Remember folks, things are WTE
3. Folks are freaked, and I rather suspect that small biz job cuts have been brutal, especially as small businesses are really hammered by the twin devils of collapsing credit availability and a capitulating consumer
4. Large business cutbacks are being under-reported
5. Even Health Care is begining to hurt
6. Governments have been laying off like mad, and the stimulus $ has yet to arrive
7. Self-employed folks are finding much less self-employment

Tune in at 8:30 am tomorrow.

PS - if I'm wrong I'll say "wait til they revise the Feb numbers next month" :)