Tom Jenkins fired a 63 to jump into a share of second place with Craig Stadler and Dave Eichelberger on the Red Course at Eisenhower Park. Gary McCord, Dan Pohl, D.A. Weibring, John Harris and Darrell Kestner were one shot further back at 9-under-par 133.
Streck has a pair of PGA Tour wins to his name and a lone Nationwide Tour title that came at the 1993 Yuma Open. He made his debut on the Champions Tour last season and has yet to post a top-10 finish, although that streak seems destined to fall on Sunday.
The 50-year-old fired a 62 in the opening round, missing two-time defending champion Jim Thorpe's course record by two strokes, but suffered a hiccup early in round two with a bogey at the par-4 first.
Streck recovered with a birdie at the par-5 third and regained his form with three straight birdies starting at the par-4 seventh to move to 12 under. Streck added a birdie at the par-5 12th after his third shot stopped within a foot of the hole to pull further ahead at 13 under, but he found trouble with a bogey at the par-4 14th.
'I tried to do the same things I did yesterday,' said Streck. 'I've been playing well for the last few months but I haven't scored well.'
Jenkins had three birdies on the front nine to make the turn at 5 under par. Jenkins then birdied four in a row from the 10th and added a birdie at the par-5 17th to finish within two of Streck.
Stadler has yet to win in 2005 but he has put himself in position this week. Stadler mixed four birdies and a bogey over his first nine holes but dropped another shot at the 11th. He countered with a birdie at the very next hole and parred his way in for a round of 68.
Eichelberger bogeyed the first but came back with back-to-back birdies from the second. He added a birdie at the eighth and tallied three birdies and a bogey on the back nine en route to a 67.
'I'm playing as good as I can play,' said Eichelberger. 'I'll need to do it again tomorrow to have a chance.'
Gil Morgan finished alone in 10th place at 8-under-par 134 after a round of 67.
Des Smyth, Ed Dougherty, Tom Purtzer, Jim Ahern, Mark Johnson, R.W. Eaks and Morris Hatalsky are knotted at 7-under-par 135.