The price of the stock automatically drops by the amount of the dividend the next day, so there is really no point in "swing trading" dividend stocks...

I do find, however, that if you own a dividend stock and have made a nice profit on it, it is sometimes better to sell it in the days leading up to the dividend rather than taking the payment. People will be buying in the days before the dividend to do just what you are talking about, and the price may go up more than the amount of the dividend, then fall farther after it goes ex-dividend.

This is hardly scientific of course, and other things such as taxes and fees can come into play.