Beat the Street: New Leader Emerges

A new leader emerged in the final week of TheStreet.com's Beat the Street contest, using a mostly short-airline portfolio.

"GWT2001" took the lead on four airline shorts and short bets on a chemical company and greeting card maker. The portfolio, which totaled $291,234.94 at the close of trading Wednesday, consists of UAL(UAUA Quote), Northwest Airlines(NWA Quote), Delta Air Lines(DAL Quote), Continental Airllines(CAL Quote), Sociedad Quimica Y Minera De Chile(SQM Quote) and American Greetings(AM Quote).

Airline plays -- both long and short -- have been a common theme in the 12-week contest.

In second place was "Hantongjin," whose portfolio of $288,738.56 was short five airlines and one bank, Washington Mutual(WM Quote).

"Redlight," the leader the first two days of the week, dropped to third with a portfolio total of $288,383.86.

The contestants are playing for a $5,000 prize.