Here is the dropoff due to the CPLP dividend payout that I spoke about in yesterdays post. I was seconds too late selling at the $9.20 high on Monday, but got out yesterday at $9.12.
Although I'll miss the dividend due to the record date being August 6, taking $1.12 profit per share by banking my trading profit exceeds the $0.25 per share dividend that I'm missing this quarter.
Action to take: Let the dust settle, then buy back in under $8 if possible (see the chart in yesterdays post).
Aim to make $1 per share profit within the next quarter. If you don't get the timing right, buy and hold for the dividend income. It's still a good income stock - Supertankers need to be kept running, and the world still needs oil.
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