Shares of General Electric (NYSE: GE) have had a nice run in the last few months but are starting to look tired.



Chart Courtesy of StockCharts.com

GE and other high yielding conglomerates have had a nice run over the last few months. The combination of low bond yields and the low dollar have made these companies attractive to investors seeking income and also to those looking for companies that are earning big money.

But, the stock's 3.6% yield may not be enough to hold investor's attention after a 36% rally from its October bottom. This would be especially true if the U.S. dollar starts to stabilize or rally, which it seems as if it could do.

U.S. Treasury bond yields have most likely bottomed out, although a rise in yields has had several false starts. But, if bonds become less attractive, rising yields could take away an incentive to own companies like GE, which pay decent dividends.

Instead, investors would start to look for growth and that would most likely favor small to midcap stocks. We think GE has topped out.

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