I Sold GE but Still Like the Stock

The best candidate to utilize for such purposes was GE. The current price of the shares was considerably lower than my cost basis, so I chose to get out of the name for now. No need for too much regret, I suppose; I'll simply get back in if I decide to do so later on.

I sold out around the $16 mark, so, as you can imagine, I'm not too happy. At the time of this writing, shares were exchanging hands for about $18.40. That isn't too far from the 52-week high of $19.70.

For what it's worth, I believe GE may be a decent stock in 2011. It won't be the best in terms of capital appreciation, probably, but I think management wants to continue to do what it can to raise the dividend. Earlier in the month, the conglomerate increased the quarterly payout by 17%. That was the second increase this year.

The one-year chart isn't necessarily an awesome sight to behold, but the trading bulls will point to the recent upturn in the stock and the idea that it will be able to push past resistance levels at some point in the near future.

Whether that will happen or not, who knows, we'll have to wait and see. I'll be keeping my eye on GE.

Disclosure: I don't own any company mentioned; positions can change without notice.