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"World's Best Job" candidates
For those of you unfamiliar with "WBJ", see this defunct Yahoo group. The basic philosophy was to buy a stock prior to the ex-dividend date and sell when the total return is 3%. I'm planning to use this as a precursor to a "Dividend Play" just before the ex-dividend date. I'll start by using a Portfolio123 screen to show me stocks that have:
- Weekly options
- At least 4 weeks to go before an earnings report
- Ex-dividend date between 15 and 30 days before going ex-dividend
- Yield above 3%
- 19 years of increased dividends
Then I'll monitor them with StockCharts.com, planning to buy on a price weakness, defined as RSI(2) under 20. For example, the current candidates:
http://stockcharts.com/freecharts/candleglance.html?KO,MCY,OMI,TROW|B|B2|-1
I also have a workbook that calculates possible limit prices for RSI(2) being breached. For example:
Ticker | Current RSI | Last Price | Buy Target |
OMI | 29.5 | $31.91 | $31.79 |
TROW | 48.5 | $69.70 | $68.80 |
MCY | 55.8 | $55.66 | $55.07 |
KO | 94.7 | $45.39 | $44.60 |
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