do this to see power of 3x etf:if you take a penny
You don't get it. This ETF closes out everyday and the makers of the ETF take a chunk of the proceeds, which causes the price to decay.
Look at the combined price of FAS and FAZ the past thirty days alone, it was $16.50 30 days ago, it is barely $14.25 today, it will be no more than $12.75 by 1 July.
You need to understand that according to the prospectus, this is a daytrade. It isn't an ETF at all, it's a gambling fund where the makers of the fund are croupiers taking value from it EVERY DAY--that is the biggest complaint about it. They call it "decay".
It's actually a scam.
Think of it as an option on the market deteriorating over time every day.
hey genius, all i pointed out is simple exercise in doubleing pennies. unless you have a brain of cacroach and your ADD doesn't allow you to repeat same exercise 31 times you missing the whole point. read my post SLOWLY very SLOWLY before you call me an idiot especially the part where I say tha I'm not sugesting this price action for FAZ.