I believe the leverage is reballanced at end of day. I always figure about +2.7x on up tic and -3x on down tic. But, if it finishes up, then when releverage, so, in effect begins to excelerates up in a down nasdaq market. So this is much better in multi-day down market vice the up a day down a day we have been seeing.
Nasdaq is down .5% and this is up a bit over 1% ... would seem it should be 1.5% but is not based on nasdaq but nasdaq100 index so QQQ is better match then nasdaq. Still, seems it should be bit a higher but is trending close.
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