The airplane was substantially damaged when it ground looped and impacted a taxiway sign following a landing on runway 27 (4,001 feet by 75 feet, asphalt). The pilot reported that as he was on final he was crabbing into the wind to maintain the runway centerline. When he approached the runway, he applied aileron into the wind and left rudder "to align with the centerline and cancel drift." The pilot reported that he contacted the runway before the alignment was complete and the airplane turned to the right. The pilot reported that he "over-compensated and got into an oscillation" and the airplane ground looped. The airplane subsequently departed the right side of the runway and struck a taxiway sign. The pilot stated in his accident report that the accident could have been prevented by performing a go around. Wind conditions reported at Bolton Field Airport, 15 nautical miles east of the accident site, near the time of the accident were: Wind 350 degrees at 8 knots.