Patience...this train ride just started. Next week is when it will "wow" people watching the TZA ticker scroll by the TV screen. I was impressed seeing the number of TZA calls for January 2013 with strike prices going into the mid twenties. I'd be happy with this ETF hitting $17 (got in yesterday at $13.75).
Make sure you lock in your profit. My mistake was not taking the profit when I had it on the 1st day because I was too greedy looking to make a killing on the Fiscal Cliff. The market rallied after 12/17. Even as SPY dropped 2 pts from where I bought it the decay and expense is too big to overcome. SPY would have to drop 3 pts or 139 to make money from my trade that I bought 10 days ago.
Look at the selling volume its pathetic - its below average, even the Vix is too low at 20.42. I think Congress makes a decision before the day ends, tomorrow or Saturday at the latest. I can't see the Republicans risking their careers pushing the country over the edge or dragging it till Monday.
Better stick to buying TNA on dips: better probabilty, more profitable and easier to make money.