"My question is whether current SP is fair or overbought"?.....

May I respectfully recommend you look in the left column, find press releases and go back to September 2007 about the 9th, October 2007 about the 10th and read in their entirety the contents of what started this and its rise to the heights it did. Look at the trading patterns, volumes and movement. Please read each detailed report with a keen eye.

Then I would ask you to compare that to the recent news and future potential and see what you come up with. Where has this come from lately and where could it go? Read between the lines, consider the timing of certain actions (ie: Windfall, drilling locations, PP, trips abroad, etc.)

Then I would ask you to consider a flow through PP of $2.80 which is filled in a day and 1/2. Explain to yourself that some of the selling last week and residual today was associated with that accumulation as well as consolidation and positioning and then look to see who is buying and who is selling. Any insiders selling en masse?

Lastly, I would ask you to consider the learned opinions of those on this forum that have earned the ears of others. Weigh the information, consider the current known information and then, (with due respect), answer your conundrum with reasoned thought. Govern yourself accordingly and privately. Remember no-one has to buy, many have to sell.