i dont think ftse would be going any lower than 5750.
Bare in mind, most experts predicted footsie to end nearer to 7000 by end up 2007.
Am not reccomanding. but i would consider having thoughts of 'buying' and taking advantage perhaps?
I never done these 'contract' tradings, as i think you are required a huge amount of investment right? I only daily spread trade.
Regards,
Jonny.