@freezer The effect or amount of decay from holding leveraged ETFs for more than a daytrade is a function of two things: Obviously, the amount of leverage, meaning that a 3x etf tracking the same sector or index as a 2x etf will suffer more decay over time.
The other variable, which often has the biggest impact on decay, is the volatility of the underlying index, sector, commodity, etc.. that the ETF is tracking. Simply put, the more volatile the underlying, the worse the decay will be over time. As such, NUGT/DUST and LABU/LABD are right up there as some of the etfs with the most decay as the miners & biotechs are among the most volatile sectors in the market (plus the fact those are 3x leveraged). When you hold a leveraged ETF of any diversified broad index, such as the $SPX, $NDX or even the slightly more volatile $RUT (small caps), the decay is not nearly as bad. Therefore, for those that don’t have the ability to short, say TNA, to gain short exposure on the small caps for a swing trade could either go long RWM (1x short $RUT) or if they would like to leverage their buying power, a TWM long held for a few weeks, possible even a month or more in the right market conditions* should provide gains of nearly 2x the drop in IWM.
*As far as the right market conditions, I am referring to a mostly unidirection move, i.e.- a relatively steady downtrend with minimal days that close positive and minimal sideways trading ranges as both are the causes of decay on the leveraged etfs.

Thanks