Moneycat - yr point well noted -you may well be proved right. I've bought March contracts to give the trade some breathing space. I agree there is crushing downside momentum but feel that any move up might bring out the bulls who will fill their boots at these prices. I want to be in at the start . . . . . logic that has trapped countless numbers in the past I know . . . what I can say is that I won't be shaken out lightly ( I hope their listening) and am in for the longer term move.