Last summer you could have picked up Oracle (ORCL-NASDAQ) at a post split US$19 on my recommendation. Today it is trading at US$81 — that's a 326% gain in less than a year.

This has been one of the best performing blue-chips over the past year; 33 out of 35 brokers recommend it as a buy. It's numbers like that which make me question whether we are nearing a short-term top.

Oracle beat the street in Q2 bringing in US$384 million or 26 cents a share on sales of US$2.3 billion. I believe it should beat the Q3 expectations of 13 cents.

The question is will it beat these numbers enough to avoid a sell off. Maybe not, but I'm not selling. The post-Y2K spending spree happened just like Taipan predicted, and it is far from over.

Taipan expects the revenue and income growth to continue, as the worlds second largest software maker benefits from global B2B expansion as well as significant cost reductions.