BEYOND LEHMAN

Where to begin...European banks imploding. China currency run. New two year closing low in the S&P. Defensive stocks going parabolic. Junk bonds new lows. Leveraged loans new lows. Global Dow @Lehman 3rd wave level. So many choices...

No, this week's chart of the week until I add another one, is oil and oil volatility.

Because the last time oil volatility was this high was a month after Lehman, Oct. 20th, 2008.

Subsequently oil fell by -50% and bottomed two months later:

Then again, U.S. inventories are a tad higher now than they were back then...