While I've made some money this year on SKF (financial short) I've never be much of a straddler or short trader. That said, I sold half of my QLD at 72 yesterday, then bought QID following your post. I obviously didn't jump on the train in time to lock in the 6% gain for the day (congrats to those who held overnight), but I did manage to tread water on my QLD for the remainder of the day without it bleeding me dry during the afternoon drop to 67. My account managed a 1.5% gain on QID to offset the loss on QLD during the last few hours of trading. These ultra funds are great on the upside, but they are doubly painful on the downside. Who would have thought it would have been profitable to unload QLD at 69 or even 68 today. The market was trading down at the close. Those 10,000 Dow prognosticators are looking more accurate daily.