for small investers 3x funds are fun, but can be extreamly dangrous and you have to understand that.
on the OP 1st comment, Yes i too like things slow and steady but with a 3x fund slow and steady can be a death blow, for 3x funds you want it to be fast and hard.
these are not long term holdings these are for the small players to big players to play with only.
this should not be new news to anyone in 2x or 3x funds. If you want slow and steady and anything over 5-6% makes you nervous then you need to stay out of these and go with the stocks or non leverage funds instead.
FAS/FAZ/UYG is also XLF (non leveraged) NUGT/ is also GLD(non leveraged) and the miners such as TC, ABX, KGC ect..
i play most all the 3x funds but only use 10% of my account and expect to hold for maybe a week at the longest.