I dont have the time or experience to really day trade, so I suppose I meant buying and selling in the same day. If I see a lot of low peaks yet a steady stock, I'll keep a limit trying to get a low price, then set a limit above that to sell. All on margin of course.. I made over 20% in the first half of the year doing that, but Im trying to get away from it.
Anyway, I think you're right about two things: usually mid morning is best, and secondly, the stock should edge up before the dividend. Im still holding. This week has been really nasty though..