Rocky’s Weekly Stock Picks

Screens like this look really impressive until you learn how to read them. Then they’re pretty boring (unless you’ve got favorable positions!).

This week most every brokerage will have released 1099-B’s, which means it’s time to get them taxes done! Not that this is Rocky’s Weekly Tax Preparation Picks, but we’d like to comment briefly on paid tax preparation.

First, Rockydennis Presents is fully qualified to prepare your taxes for you! We don’t officially offer this service (yet), but if you send us an e-mail we’ll talk.

Second, avoid Turbo Tax. The only reason to ever use them was because you had a low-income W-2 and that’s it. Then you’d file for free. Well screw that, because the IRS lets you e-file direct for free now!

Third, if you’ve got any kind of dumb or complicated situation, seriously consider a paid tax preparer. Someone with a PTIN. Your neighbor isn’t going to sign your return - nor is he going to pay the penalties and interest in 5 years when you get a massive bill from the IRS.

1. FTCH - $5.67/share, weekly options. Fashion is our passion, so why wouldn’t we get on board with Farfetch Ltd?
   
   Also, we got stuck with shares at $33, so we want to average down. Selling puts is the way to go here.
   
   We’re also confident in Farfetch’s ability to stay solvent while waiting for consumer spending to come back around.
   

2. PINS - $24.85/share, weekly options. We love Pinterest. The price may be on its way back down to the $22 range, but we doubt it. We will be looking to close out LEAPs we have on this security, and then buy actual shares.
   
   We go back and forth on holding long-expiration options and just buying shares. Ultimately, shares end up being better when the market moves against you. Usually.
   
   

3. CHKR - $1.30/share, ex-div 2/16, $0.07/share each quarter. This stock is OTC pink sheet. This stock is oil royalties from 70 producing wells.
   
   TradeStation allows you to trade OTC without paying a commission. Just saying.
   

4. CLM - $8.28/share, ex-div 2/14, $0.12/month. We didn’t double-check, but this probably isn’t available on Robinhood or WeBull. A lot of these income funds simply are not. We’re not sure why, and have no plans to look into it in the near future.
   
   Hey, it’s amateur investment advice for amateurs, by amateurs. What’d’ya expect?!
   
   Putting these kind of monthlies on a DRIP are a great way to build portfolio value without triggering a taxable event. WINK WINK NUDGE NUDGE
   

5. ECTM - $1.51/share, ex-div 2/17. This quarter is $0.12/share. NICE.
   
   Our cost basis is $1.11/share, but $1.50 is still a nice price to get in at. This OTC stock represents a trust that does nothing besides own oil royalties. We can dig it.