The following are chip counts taken at the end of Day 2:

Play for Day 2 is over, and we are waiting for the official chip counts.

As far as the ladies go, Anajit Galajian has been eliminated, and only two - Kristy Gazes and Lori Conn - are left. Gazes has a little over 100,000 in chips, and Conn has approximately 165,000.

Quite a few people were eliminated today, and there are estimated to be less than 200 players left. JC Tran is the king of day two, and official counts will follow.

The number of women in the field is diminishing fast... Erica Schoenberg went out, and Marsha Waggoner was just eliminated 10 minutes ago. As for Waggoner, she simply wasn't able to get good cards for the last hour or so and finally moved her short stack in. On the other hand, Kristy Gazes is doing quite well and not going anywhere soon.

Other eliminations include Joe Bartholdi and Dan Alspach.

One of today's chip leaders has been eliminated by another. Joe Sebok was all in with a diamond flush, but his opponent, JC Tran, called and beat Sebok with a full house. Sebok left the room immediately, and Tran now sits with somewhere around 500,000 in front of him. Tran is on a roll and quite intent upon running away with this tournament.

Isabelle Mercier, enjoying a soothing massage, noticed that she had two Q's in her hand, and she moved all in pre-flop. Her opponent called with K-Q, and the board came J-3-K-J-10. Mercier has been eliminated.

In other news, Freddy Deeb has been eliminated. And Anthony Mak moved all in against several players, received no callers, and raked in a nice pot. Negreanu celebrated from the sidelines.

Players are returning from break to good news - they are preparing to play the last level of the evening.

Smiles all around at the media tables...

Just as most players went on break, several remained to play out hands. Isaac Haxton knocked out another player and scooped a huge pot, and Eugene Todd took a nice pot as he high-fived (with quite a bit of force) Nenad Medic and yelled (loudly), "Yeah, baby, yeah!"

Anthony Mak just doubled up, only about 10 minutes after a mini-coaching session from Negreanu away from the table.

Tim "Dr. Hope" Anders has been eliminated after nursing a short stack for some time. Literally, Hope is gone.

There are 189 players left in the tournament.

J.C. Tran, the 5th place finisher at the 2006 LA Poker Classic, is one of the dominating chip leaders at this point in the day with around 200,000 in chips. His intensity is noticable, as he is gunning for the whole $2.4 million enchilada this year. At this point, it would be an understatement to say that he is in the running.

Daniel Negreanu has reentered the building, quite possibly to check on his protege, Anthony Mak. Negreanu certainly isn't hovering, but he's here for support and advice if needed. Mak is working a short stack but has no intention of giving up, as he's demonstrated all day.

It was just announced that 216 players are left in the tournament. Level 10 is now in progress, with antes of 200 and blinds of 600-800.

Some of the recognizable players who have busted are Mike Matusow, Phil Laak, and Shane "Shaniac" Schleger...

As for the ladies, Marsha Waggoner has about 58,000 in chips and looks strong. Isabelle Mercier, Erica Schoenberg, and Kristy Gazes are doing well.

The tournament has resumed. Just prior to the dinner break, Chad Brown busted out of the event.

Players are on dinner break in mere moments and will return in one hour.

There are approximately 270 players remaining in the tournament.

Observation suggests that most players have tightened up their game, and even the short stacks are being very careful about the moves they make and when they make them. Intense poker going on here.

Amazingly, the televisions in the room are not showing the Academy Awards, and no players seem to be concerned about that. Ummm, we're in Los Angeles, folks. The Oscars are the WPT Championship and the WSOP of Hollywood!

Sean Sheikhan has been eliminated from the tournament.

Two more eliminations: Paul Darden and Erick Lindgren.

Anthony Mak, the latest protege of Daniel Negreanu, just doubled up. With the board showing J-10-6-K, Mak moved all in with his short stack and showed the straight. His opponent who called was highly upset that his pocket A's were cracked. The river was a blank, and Mak doubled up.

David "Dragon" Pham has been eliminated from the tournament, making a point to jokingly use the prohibited word on his way out of the room - safe from any possibly penalty.

And two big names are out already. Mark Newhouse and Kathy Liebert have both been eliminated. They were both toward the short-stacked end of the list, and the moves that they chose to make in that position didn't work out in their favor.

Some of the big names at the top of the field today are Joe Sebok, who went on a tear yesterday despite an ankle injury, Toto Leonidas, Michael Mizrachi, Martin De Knijff, Bill Edler, Barry Greenstein, Steve Dannenman, Lee Markhold, and JC Tran. Not far behind are Chau Giang, Shaun Sheikhan, Sean McCabe, Joe Tehan, and Patrik Antonius.

Notable women still in contention are Erica Schoenberg, Kristy Gazes, Isabelle Mercier, Anahit Galajian, Kathy Liebert, and Marsha Waggoner. Galajian came close to the final table last year but went out admirably in 7th place. Quite possibly, she's back for revenge and hopes to claim her seat at the final table this year.

The players are taking their seats - all 368 of them. And as everyone get settled, Cheri Dokken announces "Shuffle Up and Deal!"

The tournament room is being prepped for the start of Day 2, and chip bags are being distributed as dealers psyche up for the grueling day ahead.

Rumor is that the chip counts listed below contain several errors, most importantly the two chip leaders and their supposed chip counts. As soon as the tournament director arrives, I can update the list below and name the correct chip leader.

The following are the chip counts as the players go into Day 2 at 3:30pm PST today.

They enter at level 7 with blinds of 300-600 and an ante of 75.