It really should be much higher by now. I got burned by FAZ a couple of times. We'll see what it does today but this is a dangerous time in the market to get in an ETF like this. Things have been going the opposite of what I thought, example is yesterday's rally.
What can I tell you, everytime I get in this my heart stops since I don't know if the guys running this short their own fund or what the hell goes on behind the scenes. Today would be the real test to see if this really works...
Best thing to do to calm your heart and gain confdence in this issue (and any others) is learn the techs.
My technicals are all telling me the tide has turned, bear rally is dead as of today. Yes, it started toturn Monday, but today we put it in the ground 6 feet under.
Because they don't gap stocks way down if they're planning on selling. Pre-market volume is too low for big money to sell, so they try to open it near the previous close in order to sell into higher volumes.