Scott Chamberlain got a late start playing's "Beat the Street" trading game, but he's already worked his way close to the front of the pack. Having built up $516,267 from the $100,000 in seed equity, he was ranked ninth among our more than 24,600 players at Wednesday's close.

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1) What stocks have you traded most effectively and how?

I trade high-momentum stocks that are showing signs of technical buying exhaustion. Typically, there are only one to two stocks that meet this screen each day. Examples over the last few weeks are Dendreon ( DNDN), Cell Genesys ( CEGE), Dyax ( DYAX) and InsWeb ( INSW). In each case, I enter a short and wait for the inevitable drop.

2) What's your style of investing? Are you daytrading, or making longer-term picks?

While my investing style is low-risk/long-term, this strategy doesn't work in a competition like "Beat the Street." You have to look for stocks that are event-driven. Over many years of studying the markets, I have developed a set of technical indicators which, when weighted properly, roughly signal when buying has reached its exhaustion levels. I usually enter into these situations by selling short and covering the next day.

Across the equity markets, only one to two stocks per day meet the screen criteria, so it takes very little time away from work or family.

3) Do you primarily trade on the long or short side? Any stocks that have been particularly good from both sides?

Over 90% of the trades I have made are from the short side. Having said that, I believe the uranium stocks are where the hot money is going right now. Names like Uranerz ( URZ), Energy Metals ( EMU) and UraniumResources ( URRE) are in the early stages of a huge bull market and are up 50% or more in the last two months. These are all good long candidates.

4) How do you research your picks? Do you primarily use fundamental or technical analysis?

I use both self-developed and generally available technical indicators only, but I do look at the fundamentals to better understand my risk profile on each trade.

5) If you win, what will you do with the $100,000?

It's such a long shot, I don't even think about it :). While I was in ninth place yesterday, I am still well behind the current leader. I started three days late, which really makes a huge difference in the competition.

6) Have you given any thought to what you'll look to learn from Jim if you go on air together? Any stocks you'd like his take on for "real investing"?

I'd like to know what his view is on how to determine when the uranium sector bull market will end. I'd also like to understand more specifically why he's so bullish on the equities market right now.

7) How long have you been investing? And what's the best investing advice you've ever received? The worst?

I have been investing for 15 years or so now but my risk appetite is low, so most of my money is in cash or cash equivalents. The best advice I have ever received is that discipline 10 (discipline to the 10th power, that is) and risk management are the keys to long-term returns. The worst advice I ever received is that Yahoo! ( YHOO) was a "buy" at $45, which was down $65 from its 2000 peak of $110.