New Positions on Covestor (EGO, AN)

Opportunistic is a model managed by Jafet Mendoza that may contain any U.S. major exchange-traded equity. It is diverse, holding the stocks of companies in many different industries, and is also aggressive, opportunistic and flexible.

Last week, Mendoza added several new positions to the model, including Eldorado Gold Corp (NYSE: EGO). So far this year, EGO has seen a rise in their stock price. On December 31st, 2009 the stock had a closing price of $14.17. On October 26th, 2010 it closed at $17.17, which is down from its high prices for the year, but still shows a more than 20 percent increase from December 31st’s closing price. Last week EGO declined in price, falling as low as $16.34 on October 21st. The company is continuing to grow and on September 16th they announced that they had completed their acquisition of the Xiaoshiren Central exploration license in Jilin Province as part of their China growth strategy. The company is slated to announce their third quarter 2010 financial results on October 28th.

Another position added to the model was Autonation Inc (NYSE:AN). AN’s stock price has been choppy during 2010, ranging from highs like $24.85 (the closing price on August 9th) and lows of $17.59 (the closing price on February 5th). The stock closed on Monday, October 18th at $23.89 after hitting a low of $23.29 for the day. On October 26th, it closed at $24.55. The company is scheduled to release their third quarter 2010 financial results tomorrow, but already announced their retail new vehicle sales for September, which had increased 54 percent for domestic vehicles from September 2009’s figure. They also had a 34 percent for imports and 14 percent for premium luxury vehicle sales.