steady stream of profit takers

A fair bit of profit taking has been taking place since recent highs. I must confess to offloading some of my stake at recent highs, as its probably a fair assesment to say that VOC overshot the mark pretty quickly - probably a function of generally low free float and a number of funds scrambling to get a slice of the action. One only needs to look at management pulling the trigger on a cap raise at around $2 and for the share to hit a intra day high of 3.04 in a matter of weeks later. Obviously this is not comment on management or the outlook for VOC both of which is exceptional in my humble opinion. Given current market sentiment, and given the possibility of a larger block of shares being placed on the market come June/July when a material chunk of shares come out of escrow one would think that on the balance of probabilities the share price will perhaps even drift lower or consolidate around current levels. I have trimmed my personal EPS forecast for this year and on my numbers think it could fall anywhere between 14 and 16 per share which puts the company on close to a PER of 16 which is pretty robust. Obviously the market is expected pretty solid growth which I think it will get however I am struggling to see the share price match its run over the last year in for the next year. That said if the share price drifts lower than 2.2 I will be loading up as the longer term outlook for VOC remains pretty rosy. All that said this share doesnt really behave normally so we could see a massive spike on renewed buying volume at any time.