The turmoil in the markets makes it too easy to justify selling any stock these days. Yet while panic never helps investors, it's still a good idea to play devil's advocate with investments.

Consider solar component and systems maker SunPower (NASDAQ:SPWRA). Though the sector shows plenty of promise, you'll find a few of the 1,569 Motley Fool CAPS members who've weighed in on the company offering reasons to be bearish.

At The Motley Fool, we like to consider both the good and bad sides of an investment. Here, I'll highlight three of the main bearish arguments on SunPower. Be sure to read the bullish side, and then offer your own comments below -- or rate SunPower in CAPS.                                         

1. Oversupply
According to a recent report by iSuppli, inventories are spiking in the solar supply chain because of low demand. While companies such as Trina Solar (NYSE:TSL) are planning to crank up capacity, the credit crunch has dried up funding for projects, and countries such as Spain have cut back incentives. The combination of the excessive market push and the limited customer pull has many investors concerned about the effect on prices.

2. Courting demand
While U.S. and Chinese stimulus dollars are expected to help demand for solar power, some investors don't think it's nearly enough to drive the industry up in the near term. Reacting to an forecast of oversupply and weak demand, one Jefferies analyst recently downgraded a slew of solar stocks including SunPower, Suntech Power (NYSE:STP), Solarfun Power (NASDAQ:SOLF), and Energy Conversion Devices (NASDAQ:ENER). And a Soleil Securities analyst had a similar negative opinion of First Solar (NASDAQ:FSLR).

3. Short on cash flow
SunPower tapped the capital markets in May with a dilutive offering to pick up more cash, and like Evergreen Solar (NASDAQ:ESLR), it has been lacking in its ability to generate free cash flow. As of the latest quarter, it had burned through more than $130 million in cash over the past year.  

To see details of what CAPS members are saying now about SunPower, just click on over to Motley Fool CAPS and have a look -- or add your own thoughts in the comments box below.