Well it still needed to be re-wroked a bit. I used the magic wand tool to get rid of most of the white but the way it's shadowed left ugly looking white bits. I didn't like that because it made it look like an obvious cut and paste. So I added in a bit of dark grey with the pencil tool and some amber near the top to make it more pointed. Then I saved it as a .Gif with Transparency. That's strange that it was already cheacked off as being transparent.