Good strategy. Many people on this board can learn from that. Your strategy is how to prevent the big $$ loses on these 3X ETF's. Sometimes you gotta clip it for a small loss. But too many people only want big gains. Life does not work that way most of the time. I am slightly up on the short side from yesterday and may very well need to take a small % gain. My crystal ball (as good as anyone's) thinks today will be down a little.
I gained while a bit yesterday betting on commodities (eg: CENX, AKS, TC and X). Helped me on loss on NFLX. I took some profit and have more fuel for next move. And if I would see comodities going down to the level that I like I would buy them back.
Bought FAZ and TZA because I thought they were reasonable bet too. However, I saw FAZ going down to 35.1x, I started to wonder if I made the right decision buying it at 36.5
When I looked back of the 1987, when most smart people bet against the market, those ended up with failure.
So, whatever you do, the market is always ahead and smarter than of each of us.