A member here suggested the chain lube known as white lightning, so I picked one up from my local 'sids bike shop'. Unbelievable stuff! I cleaned the antenna fully extended with a damp cloth, let dry and then cleaned it with the chain lube and let air dry. The result, after one more application a week later, is an antenna that I can't hear coming up or going down anymore, thats how smooth it's become! No residue! No mess! And best of all no run off!! Highly recommended.
I want to thank who ever it was for pointing me to White lightning!
I now try and lube every antenna my friends let me get my hands on