Selling a Stock Ask Yourself This When Thinking About Selling a Stock

Selling on Bad News

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Patience is a virtue for a good reason: It pays for itself. When the market dips, or even when a particular stock dips, there are always investors who panic and sell. Selling should be treated just as seriously as buying. If it is just a bump, ride it out. If it is truly a problem with the stock, take your time as well - you may find a way to use it in a gain-loss transaction that will save you taxes. By the time you hear it, bad news has already settled in - taking your time isn't going to make it much worse.
Source: http://www.investopedia.com/articles/basics/07/10commandments.asp