Chris Jorgensen Takes Top Spot in <I>TSC's</I> Investment Challenge

Jorgensen's top picks include Vitria Technology, Red Hat and Amplidyne.
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Chris Jorgensen

is back.

Jorgensen, who finished in the top five in the

TheStreet.com's

last

Investment Challenge

, closed out the second week of the new Challenge in first place. By last Friday, he had amassed a portfolio valued at $3,327,981, up $2,245,107 for the week.

Jorgensen produced this fat gain by trading in stocks such as

Vitria Technology

(VITR)

,

Red Hat

(RHAT)

,

Amplidyne

(AMPD)

and

China.com

(CHINA)

.

Jorgensen, a trader at

EBI Securities

in Spokane, Wash., likes to trade stocks based on their momentum and volume, so the hotter the stock, the more likely he's going to try to profit from it.

During the Challenge's first week, Jorgensen says his biggest losses came from shorting Red Hat, but last week he managed to increase his portfolio more than half-a-million dollars shorting the same stock. A man of firm convictions, Jorgensen says that he's going to stick to his game plan in order to earn his "phantom" money.

In the second spot was

Scott Chamberlain

, with $3,121,743 in his portfolio and a $2,068,778 gain for the week. From Springboro, Ohio, Chamberlain is finance chief for

Nexis

, a division of

Lexis-Nexis

, and he makes his Investment Challenge profits by "shorting overblown stocks back to what they are worth." Although Chamberlain seems to be focused and confident in this Challenge, he realizes the intense volatility that can strike. "One bad trade could send me down to the 9,000th-place level," he says.

The third-place finisher,

Joe Palma

, of Bellerose, N.Y., was well behind the top two, finishing the week with a portfolio of $1,650,698, up $1,153,597 for the week.

The remaining top-five finishers for the second week were

Jamin Dixon

, of Fayetteville, N.C., who finished in fourth place with $1,385,973, a $1,007,920 gain. The fifth-place finisher was

Darrell Arrington

, of Macon, Ga., with a portfolio worth $1,534,949, a $999,839 weekly gain.

Registration ends Oct. 18 and trading ends Oct. 29. In order to register, go to:

www.activefactory.com/thestreet/streetmedia.