Well at least you came out of alright. I have seen traders ride 3x leveraged ETF's to almost nothing.
That's right, one girl I know from the boards (she doesn't trade anymore.. and I'll tell you why)
She bought UVXY about a 1 1/2 years ago for around $300.00/share. 10 board lots (a thousand shares). It was a trade late in the day (around 3:50pm) if I remember her telling me correctly. She was only planning on holding it for the 'POP' that she thought was certainly going to happen the next day. The 'POP' didn't happen. So she was certain that she would get out & enjoy the profitable trade the next day or the next day after that.
Days turned into weeks... and weeks turned into a year and a half later...
Unfortunately for her the 'POP' never happened... well not until October of this year (2014). She held on & held on and now she has roughly $3000.00 to her name. She is still waiting for the 'POP'.
Always remember the decay on these things. If you ride'em down (unless your short) or even sideways you are guaranteed to lose. These things are only designed to reflect 6 1/2 hours of trading. That's right one day.
Anyway the lesson is... you were smart enough to move on.
News 
Market Data 
Discover 
AI
