• To take some money off the table. If a stock has had a nice run, you might want to sell a portion to recoup part of your investment. You can continue to invest in the stock but with locked-in gains.

• A shift in the fundamentals. If the economy changes quickly, an industry becomes vulnerable, or negative news can affect a specific stock. It might be time to sell.

• When you've given up on a stock. If a stock has been declining or flat-lining for an extended period, it might be time to get out. Sometimes you have to sell low in order not to sell even lower later on.

• To take a contrarian position. If the market has gotten a little frothy and all the news is optimistic, it might be time to harvest gains.

• When something else catches your eye. You might want to take advantage of another opportunity by selling one stock to buy another.

• When you hit your target price. If the fundamentals are the same at this point, it might be time to sell.

The wise investor knows it's important to have a disciplined stock selling strategy. Be sure you give as much thought to selling a stock as to buying it.