RE: Profit taking overdue?There may well be some profit taking for the reasons you state, not to mention the prudence of taking some off the table when there has been a substantial run. But, lets not forget that it wasn't very long ago that most exploration and production companies were being valuated on the bases of $30 - $35 boe. Just adjusting that upward, which seems appropriate and realistic, would add substanially to the share price of companies. And then there is the world economy. That's why even if you are right in the short term, and you may well be, the long term seems bright.
The question I have is whether we will see a stock split!