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I constantly look to end picks on caps, and one I found today to end and say good-bye to is Energy Transfer Equity, L.P. (ETE).

I picked it to underperform and what has happened since I picked it?  According to the screen I get on it the S&P is down 15.98% since I picked it.  It is down 16.90%.  Hopefully it will close green for me.

For me caps is a game.  I am Canadian and it is American stocks and I'd have to have a heck of a good reason to be compelled to invest in the American stock exchange right now.   I pretty much exited all of my American positions in the fall of 2006 on fears of the US dollar declining. 

Right now it seems that the Canadian dollar is closely following the US dollar in declining and although I think Canada faces some serious challenges, Canada's debt simply isn't anywhere close to as serious as the US.  Further, we've recently been though the pain of trying to reduce government debt and Canadians see the link of having to pay for what you ask for.  Our government is hardly getting into the bail out game, as Ontario's manufacturing sector has bitterly complained.  Americans have asked and asked and asked and have yet to pay for it.  I think longer term the Canadian dollar further strengthens relative to the US dollar.

So, I stay away from American stocks and just play a game here.

I expected ETE to go down, it has, only just barely faster than the S&P has tanked.  Certainly if you'd shorted it you'd have done well, however, in this game, it is a barely break even proposition.  Was there a specific reason I picked ETE?  If there was, I don't remember it and I simply think this one is now to close to predict one way or the other what it is going to do.  So, I am out. 

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