While the CMI 2.0 is still in the QLD mode, I have been playing around with a new stock screen that could net 5% or so over the next couple of weeks. The criteria is as follows:
Dividend yield greater than 5%;
Share price less than $60;
Insider ownership greater than 20%;
Volume greater than 200,000;
2 day relative strength previously at or below 20;
Upward trending 6 month price slope;
Expected dividend approx. 4 weeks away.
The idea here is to ride the price up prior to the dividend date and setting a stop once the price reaches greater than 5%.
What pops up when the screen is let loose to search for potential candidates?
CLP Colonial Properties Trust (NYSE), Current price: $11.73
EPD Enterprises Products Partners LP, Current price: $31.41
NRGY Inergy LP; Current price: $35.68
Hold these no longer than one day before dividend date.
This is an unproven stock screen so buyer beware. I'll track the results over the next few days or weeks.
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