Beat the Street: Short Financials

There are new leaders in TheStreet.com's Beat the Street contest as financial shorts spiked four players past early-week leader Abozoglu.

New leader Glohoo has a portfolio worth $283,266 on shorts of Ambac(ABK Quote), MBIA(MBI Quote), Lululemon(LULU Quote), Lehman Brothers(LEH Quote) and Sigma Designs(SIGM Quote).

The diversity of LULU and SIGM separated Glohoo from second-place player Afitzho, who stood at $281,640 on five purely financial shorts adding Bank of New York(BK Quote), which was traded for Goldman Sachs(GS Quote) Tuesday night, and Wachovia(WB Quote). The top five is rounded out by Ksokso at $276,811, Rick53 at $276,582 and Abozoglu at $276,577.

Registered players can go to the Beat the Street Web site and see what stocks the other players have chosen, and all players should keep abreast of the game in the Stockpickr forum.

Registration for the next Beat the Street game will begin Friday evening, so if you missed this week, register now to get involved.