I'm not saying that people who invest in the long term are doing something wrong. That's a good way of doing things, but it takes one heck of a lot of guts to hold on to an investment while it's gone down, so you'd have to have enough confidence in your own psychology to be able to make that strategy work.

But at the same time, wise investing means never having more than a small percentage of your investment money in one particular stock. Even if you're certain that this is a bull market for gold, and even if miners and explorecos is your specialty, it's still already considered too risky to put all your money into gold miners and explorecos - everyone will tell you that you should diversify your sectors to reduce risk exposure. Putting too much money into one single exploreco is even riskier.

So with that in mind, let's assume you've done a slightly crazy thing and only put 20% of your money in GNH. Then let's say, next week, GNH pops 100%. At that point, it becomes 33% of your portfolio. You really should cut back your exposure at that point, to get it back to 20%.

Taking some profit is always good. Besides, you should never ride a stock to get every last penny out of a rise. Me, all I want to do is make $1000 profit a week. If I can sell something off to take that profit, I will, and I won't complain about missing a big pop because I sold too early. I want $1000/week profits, I don't want to ride a particular stock.