Thursday, October 07, 2010

September Jobs Report

So, the day will be ruled by the September jobs report. Here is my sense right now - I expect the private job losses to be worse than expected (maybe minus 50k) but the census job losses, seasonality and various other factors could make this another confusing report.

The second question is: what will be the market's reaction to the news? In the past, job losses were bad, job gains were good and the market reacted accordingly. However, we could have job losses, but smaller than expected job losses. This might cause the market to question it's theory that the Fed is going forward with it's plan to buy every piece of debt under the sun and thus, stocks could fall. Or if we lose more jobs than expected it could reinforce their idea that the Fed will ride to the rescue and stocks could rally hard.

I'm sitting this one out because there is too much white noise around this report.

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I know in the past I've promised to point out good websites when I see them, well this site is a winner: betterbidding.com

You've probably heard of sites like Priceline.com or Hotwire.com where you can get deeply discounted rates on hotel rooms. The problem with these sites is that you end up paying for a hotel room without knowing the name or location of the hotel. It might work out or you might end up sleeping next to the airport. Enter betterbidding. On Betterbidding people offer details on what Hotwire or Priceline told them before they paid (4 stars, 95% approval, pool, restaurant, etc, etc)and then they disclose what hotel they ultimate won.

Today, I researched a hotel in Toronto and identified a property that I felt comfortable with. I went to betterbidding and within about 5 minutes I felt like I knew which hotel I was looking at on Hotwire. The hotel's price on their website was $249 but on hotwire it was $129. I booked through Hotwire and was notified 10 seconds later that my hotel was indeed the one which I expected but just $120 Canadian cheaper (and we all know that $120 Canadian is like $1,334 US now).

It's not for everyone, but for my more frugal readers this is a great way to save a couple of loonies that you can later use to buy some Tim Horton's coffee.

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