You do not have to buy back in within a few days. Sell cum-div & the price should fall at least $3.57 ex-div to account for the dividend & franking. It is the amount in excess of $3.57 that matters. At the moment buyers are buying to get the dividend & that will cease next Tuesday because CBA goes ex-div the following day.
If ever you look for a turning point, the moment a stock goes ex-div, the trend changes & that could be the time for a reversal.
You then have 6 months to the next dividend before you need to worry about buying back in.
CBA Price at posting:
$135.40 Sentiment: Sell Disclosure: Held
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