borusa, I'm aware of what some call "decay" in leveraged ETFs. You're right, if you held for a year, either long or short, you'll probably be down.
In my case, I never set stop losses, but in April/May and again in June, I was able to average down and come out with a profit. Fact is, I've made 40% of my profits this year on TZA, about 20% on DRV, but I never have made a dime on BGZ. I always bought it and sold it for cost.
Trouble is, this time, I thought I could make a little money with BGZ, and the market just kept going up. Now, I have my doubts about the market going any higher, although I also have some doubts about it going much lower, at least for a while.
I keep reading the Yahoo! boards looking for some kind of market prediction I can believe in, and I find just as many bullish reasons as bearish. Ugh.
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