GS saying 6% rise to 2,150 over next 12 months.  

Brent is down 1% but /CL down just 0.2% so room to fall from $77.30.

TZA/Micro – I think they may test 1,200 first but fine to establish a long-term hedge with Jan $12/16 bull call spread at $1.20 and the plan would be to roll the Jan $12s ($1.80) down to the April $11s ($2.90) and sell the April $10 puts (now .50) for $1 if TZA keeps going lower.  If not, you are $1.30 in the money with a potential 233% upside.   

On EWJ, it's still at $11.73 and I like the Jan $12 puts at 0.52 (not a penny more) enough to get 20 for the $25KP and 50 for the STP.  

BABA down 3% as expected – sell on the news…