A sluggish economy, spiraling debt at financial institutions, or just plain bad management -- on any given day, investors can name a number of reasons to sell a stock. Yet while panic never helps investors, it's still a good idea to play devil's advocate with investments from time to time.

Consider parcel mover UPS (NYSE:UPS). The company has already been hammered in the recent downturn, but in Motley Fool CAPS, a significant number of the 1,445 members weighing in on UPS still offer reasons to be bearish today. I've already plucked out some of the common bullish rationale backing the company, so here are three counterpoints, courtesy of CAPS.

Cutting Costs: The economy has even some of the best companies looking at various alternatives to cut costs. Competitor FedEx (NYSE:FDX) chose to permanently remove 14 jets from service. UPS is eliminating 401(k) matching contributions, joining Sears Holdings (NASDAQ:SHLD), Ford (NYSE:F), and General Motors in the act. Some investors argue that this move could come back to bite the company, though, because it hurts employee morale and future hiring.

Internal performance: UPS experienced lower operating margins and adjusted earnings in its latest quarter, and FedEx didn't do too great, either. The company can't shift all the blame onto macro conditions, though: Smaller shipper and logistics company Expeditors International (NASDAQ:EXPD) is showing operational improvements despite the economy.

Not out of the woods yet: Some investors still see too many factors working against a full recovery anytime soon. More investors are looking to the financial outlooks of large companies like UPS, Amazon.com (NASDAQ:AMZN), or Caterpillar (NYSE:CAT) to gauge the economy, but many of them -- such as Intel -- have declined to offer specific guidance or forecasts. So there's still uncertainty.

Of course, UPS has survived despite plenty of obstacles in the past. Will it bounce back to be a winning investment? CAPS can be a great way to help you draw your own conclusion.

To see what the very best CAPS members are saying now about UPS, just click on over to Motley Fool CAPS and have a look.

More Foolishness:

UPS has joined many solid companies that pay great dividends on the recommended list of the Motley Fool Income Investor service. To see all the stocks that have the service beating the market by four points on average, take a free 30-day trial.

Fool contributor Dave Mock would probably get his luggage at his destination far more reliably if he shipped it. He owns shares of Intel. Amazon.com and FedEx are Stock Advisor selections. Intel and Sears Holdings are Inside Value recommendations. The Fool owns shares of and covered calls on Intel. What can the Fool's disclosure policy do for you? Click the link to find out.