simple (or is it?) xsl:for-each problem

[webmasterbeta]

Hey all,
I have the following data structure.....
<my:versions>
<my:version>
<my:field>value abc</my:field>
<my:elements>
<my:element>a</my:element>
<my:element>b</my:element>
<my:element>c</my:element>
</my:elements>
</my:version>
<my:version>
<my:field>value 1</my:field>
<my:elements>
<my:element>1</my:element>
<my:element>2</my:element>
<my:element>3</my:element>
</my:elements>
</my:version>
</my:versions>

I want to write an xsl function that loops through every <element> node in the first version element and write out it's contents
The output should look like:
a
b
c

Here is what I have at the momnet:
<xsl:template match="/">
<xsl:foreach select="/versions/version[1]/my:elements/my:element">
<xsl:value-of select="." />
</xsl:foreach>
</xsl:template>

this does not work, instead it pumps out ALL <element> values so my out put is like this
a
b
c
1
2
3

Can someone tell me what i'm doing wrong?