$2x Long VIX Futures ETF(UVIX.US) fell over seven points, $Microsectors Gold Miners 3x Leveraged ETN(GDXU.US) fell over five points, $XI2CSOPSMSN(07347.HK) fell eight points, $Pro Ultr GLD(UGL.US) fell over two points, and $Direxion FTSE China Bear 3X(YANG.US) dipped slightly. Today, leveraged ETFs almost all fell across the board, reflecting two things: long-volatility tools got hammered when VIX dropped to 17; 3x long gold miners amplified losses during the gold mining stock pullback; the 2x short Samsung ETF took a hit during Samsung's rebound.

Leveraged ETFs, which are tools that "only make money when the other side loses," carry greater risk than reward if held for too long. Today's collective decline showcased the probabilistic event of these three macro signals appearing simultaneously: "VIX convergence + gold price peaking + Samsung rebound." It's unreasonable to hold such tools long-term, but they can be used for short-term hedging.