Keeping track of the N largest values

[n00m]

from bisect import insort_left

K = 5
top = []
while 1:
    x = input()
    if len(top) < K:
        insort_left(top, x)
    elif x > top[0]:
        del top[0]
        insort_left(top, x)
    print top


will be enough