Beat the Street: Shorts Working

An all-short portfolio is working for the leader in this week's TheStreet.com's Beat the Street contest.

"Osei123" has a portfolio of $ 293,763.34, featuring shorts of Fifth Third Bancorp(FITB Quote), MF Global(MF Quote), KeyCorp(KEY Quote), Washington Mutual(WM Quote) and Wachovia Bank(WB Quote).

In second place was "McClintic" with $287,481.54, followed by "Upside," with $287,149.13.

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.