... piss, pork, pornography and prostitution! Now it's social unrest!
Saudi police opened fire Thursday to disperse a protest in the section where minority Shiites live, leaving at least one man injured, as the government toughened its efforts to prevent a wave of unrest sweeping the Arab world from reaching the kingdom.
The rare violence raised concern about a crackdown ahead of planned protests after Friday prayers in different cities throughout the oil-rich kingdom. Violence there could reverberate through the world's markets because of the importance of Saudi oil exports.
It’s been a woeful night on Wall Street overnight and Middle East/North African concerns are mixing with economic data that indicates a slowing China. So could this be an end to the bull run or a buying opportunity?
This is why I think this will be another buying opportunity:
First, I don’t think the China story is about to end anytime soon.
Second, I think the Saudi Arabia issues will be resolved better than Egypt and Libya.
Third, doubters of the US recovery have been wrong for two years, and I’m not going to join them.
Finally, as one wag put it, “Even a charging bull needs to exhale occasionally.”
