"...were going to be seeing $120 by the end of this year! or am I missing something?"
You are missing the point that perhaps the market won't go down much this year and TZA will stay down. I have yet to find anyone who can accurately predict the future and I'm sure that if there were someone who could, they would not be wasting their time posting on message boards.
Fair point, However considering market is closed for me and I have absolutely nothing better to do except research and get opinion of others, Id say this is okay. now moving forward considering our current state of the market I agree, with the housing and lending starting to come back into play im fairly certain the market wont go as lower. Now that does not mean its not going to do a major pull back you have to understand the reason the market is so extended is because of the HFT (High Frequency trading) Liquidity in a bear market that slows down quite a bit for obvious reasons. Im not saying I predict the future, but history does tend to repeat itself.
Okay so what am i missing? looking at a multiple time frame analysis the monthly candles will soon trigger a buy setup, the dail candles are triggering lower and slowly forming into a consolidation/breakout, all thats required for everything to trigger is a heavy market pull back.