It will decay everyday the market is open. Same with FAS. Direxion will do a reverse share split.
Example if you own 1000 shares at 1 dollar then you will own 100 shares at 10 dollars. Then we will pile on it and short more. This will continue until your 1000 shares become 1 share at 1 dollar
No sht. Four words: Leveraged Exchange Traded Fund. Its entire setup is for short term trading ONLY.
Learn to read man. Bottom of page 1 straight from Direxion.