<I>TSC</I> Investment Challenge: Amazon.com, Alteon Boost Chris Jorgensen to the Top Spot for Week Four - TheStreet

<I>TSC</I> Investment Challenge: Amazon.com, Alteon Boost Chris Jorgensen to the Top Spot for Week Four

Mild-mannered in his day job, Brian Tingley dons a cape for the challenge and cracks the top five.
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Chris Jorgensen is trying to create a dynasty, but competitors still are stirring about.

Jorgensen finished the fourth week of

TheStreet.com's Investment Challenge

in first place with a $5,153,757 gain for the week, boosting his portfolio to $11,684,501. (Like all participants, he started with $500,000.)

He accumulated this enormous gain mainly by trading

Amazon.com

(AMZN) - Get Report

and

Alteon WebSystems

(ATON)

, making $2,911,865 and $999,515, respectively, on those two stocks alone.

But there was one new name in the top five. Brian Tingley, a broker from Texastown, Ala., made his debut by finishing the week with the third-best weekly gain, $3,467,471, and a portfolio worth $4,553,367, which put him in the fifth spot out of more than 10,000 competitors.

Tingley, along with many competitors, seems to have a split personality when it comes to trading. In reality, he's a safe buy-and-hold investor, but when it comes to the Investment Challenge, he's a ruthless daytrader, risking millions of dollars multiple times a day.

Tingley bought and sold

Medscape

(MSCP)

10 times in about an hour, making more than $1.3 million. Also, he made almost half a million dollars shorting 195,000 shares of

ITXC

(ITXC)

at $32.19 and buying it back at $30.

"I started out shorting stocks that rose faster than I thought they should," he says, "but that well dried up fairly quickly. Then I began playing trends, which has worked nicely."

However, when it comes to big-risk trading, shortfalls are always lingering around the corner from rewards, and there's usually a single trading strategy responsible. In Tingley's case, he lost over half a million dollars last week trading IPOs

Digital Insight

(DGIN)

,

Shopnow.com

(SPNW)

and

Telemate

(TMNT)

.

He blames those losses to his lack of patience: "Numerically, I have had

many

more bad trades than good, just typically smaller. If I had the patience to hold on, most of those trades would have turned out to be profitable."

Finishing the week with second biggest gain was Chris Weick, who added $4,850,867, amassing a portfolio worth $7,485,619. In the fourth spot was Richard Marra of Glen Oaks, N.Y., who gained $2,107,219, pushing his portfolio to $3,447,877. In the fifth position was Michael Strickland of Springfield, Va., who added $1,575,727, bringing his portfolio to $4,171,329.

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

www.activefactory.com/thestreet/streetmedia.