I bought some SAA eleven months ago at about $28.25. Never mind why, I held on to it all the way down to the low just above $10 in early March. Now I'm glad that I kept it, as went above my break-even price yesterday. So it has almost tripled in six months. (I really wish I had held on to the BGU that I bought in early March but sold just a few days later.)

My understanding now of the way the leveraged ETFs work is that in choppy, sideways, volatile markets, they degrade; it's a mathematical artifact. However, in trends, they can do very well. That has now been my experience with this one.

Now as to what will happen tomorrow or the next day - I have no idea. But I'm long-term bullish.