The markets have been almost more fun than poker this week. How did the S+P end the day up? That’s very puzzling to me. In a turnaround from this summer, I’ve been losing in poker (on FT) and winning in the market.

I’ve been running so so bad in poker and so so good in markets. How good? On Monday, Countrywide puts looked cheap to me. I bought at-the-money puts, expiring Fri, for $1 (27.5 strike, 400 contracts). It was a gamble but I thought I was ahead of the market in knowledge of CFC’s troubles. As the stock slid, I grew more confident in the position and increased the size. Today was somewhat frustrating b/c Schwab was completely frozen…. there was no way to trade after 12.30pm Eastern by phone or email. It’s hard to say what this cost me. I can’t say that I would have exited the position but I think it would have.

I think I’m down 180k on the week in poker. I feel like I’ve been playing good and running bad but it’s hard to say. I thought I had a good spot today against IDreamofJenna (200-400nl) but he killed me. Our biggest pot was jack-high flush vs ace-high flush. I flopped a pair plus flush draw on the flop, then turned the flush.

Brandon