UK main index is down nearly 50 points as I am typing with the US futures are showing more or less on the level par despit TI - TXN results announced yesterday after the bell which were better than forecasts.

In UK the results from Yell and the giant BP weren't that brilliant and that together with yet again the fear of the interest rates rises were to blame for the UK stocks' downside movements.

In US later on at 10:00 am (E.T.), figures for the "Consumers Confidence" (105) and "Existing Home Sales" (6.45 m) are to be published.

If the Crude prices stay as high as they are at the moment, near $66 and the Dow revisits its high of 12980's, I should be tempted to open a short position and will be taking profits as soon as it materialises.