Of course. Any leveraged ETF is only for trading. I am mainly a trader -- of course the difference between trader and investor is really just time.
I've been long BIB since the end of 2012. I use leveraged ETFs as a means of reducing my cash outlays and invest the rest in utilities & REITs. Its a kind of consumer way to execute a carry trade.
Everything is a trade in this economy since it only operates in bubbles. I would say that the last phase of this bull market is about to begin and when it ends in about 12-18 months even the biotechs will get killed.
By the way I used work in PharmaIT for 20 years from 1992-2012. Unfortunately outsourcing and changes in the drug industry (ie: buying biotechs as a means of doing RnD) destroyed that industry.
There *should* be liquidity unless there is pandemonium on the street.
I was in SKF (ProShares -2X XLF) during the Bear/Lehman collapses and there was plenty of liquidity until the regulators shut down shorts of the Financials so I was forced to exit but I already made like 75% on that trade.