I didn't say to buy and hold it...that would be very foolish unless you know something that noone else does(which is unlikely). I was talking about using the daily volatility to profit from following the banks. ie: day trading. My positions in leveraged funds last less than 60 minutes, and the average is probably closer to 10 minutes.

Before you jump into 2x or 3x, you should be able to reliably generate returns from a non-leveraged ETF tracking the same commodity.