RE:RE:RE:Just need this at $7 to break even
Pawnstar: It appears that you do not understand how leveraged ETFs work. Please be not offended if I give you a quick primer. It will save you money in the future. These leveraged ETF are trading vehicles, not stocks to be held for months. Typical holding periods are hours, sometimes days. If you hold it for longer than two weeks, you almost certainly will lose. Now to the way they work.
Right now, nat-gas is at $2.60. The ETF is at 3.30. Let's assume that nat-gas falls by 5% to $2.47. The ETF will fall by twice that percentage, so it will hit $2.97. Now, nat-gas goes back to $2.60. That's an increase of 5.263%. Consequently, the ETF goes up by twice this percentage, namely 10.526%. It therefore reaches $3.2826. NOT $3.30!! You see now, that over time, your ETF will lose value with every swing.
I implore you: read the ETF prospectus from front to back before you buy another one.
You are welcome.