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 - Cramer on UAUA - Stock Picks), Northwest Airlines(NWA Quote - Cramer on NWA - Stock Picks), Delta Air Lines(DAL Quote - Cramer on DAL - Stock Picks), Continental Airllines(CAL Quote - Cramer on CAL - Stock Picks), Sociedad Quimica Y Minera De Chile(SQM Quote - Cramer on SQM - Stock Picks) and American Greetings(AM Quote - Cramer on AM - Stock Picks).

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 - Cramer on WM - Stock Picks).

"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.