Mrukk, welcome to FlyerTalk. For some additional input, I believe this is how Continental handles Elite qualification:

For Elite qualification purposes, the clock starts at zero each January 1st.[*]Silver - 25,000 miles or 30 segments[*]Gold - 50,000 miles or 60 segments[*]Platinum - 75,000 miles or 90 segments

Silver, Gold or Platinum Elite status must be earned during a Calendar Year* toward the next Elite Program Year.** As you qualify during the current Calendar Year, you are upgraded usually the next day to the appropriate Elite level, and your Elite status will continue through the entire next Elite Program Year! As you qualify during the current calendar year for each higher elite level, your status is automatically upgraded immediately.

Elite level qualification base miles or segments accrue during a Calendar Year. For qualification purposes, Calendar Years may not be combined, and base mileage or segments which determine elite status (or a higher level of your existing Elite status) start over each January 1st.

* A Calendar Year is January 1-December 31 of the same year.
The current Calendar Year is January 1, 2002-December 31, 2002.

** An Elite Program Year is March 1-February 28 (or 29).
The current Elite Program Year is March 1, 2002-February 28, 2003.
The next Elite Program Year is March 1, 2003-February 29, 2004.

Happy Travels!

------------------
Never ask a question that you don't want to know the answer.