I find it much easier to buy on the dips (Especially on secondaries and preferreds) drip the distributions and just bulk up on additional units while prices are low. Much less complicated than trading. Less decisions to be made. The monthly distributions make it very easy to just wait-and wait-and then just wait some more. Dips create more units per dollar invested than spikes.
patience is the name of this game.
Yeah, but why not do both? If you know this company, and are confident in your dd, then buying a trading position is easy, because, as you say, you get paid monthly to wait if the market moves against you. This week was just dollars lying on the pavement waiting to be picked up.