ITs up from a low of around $12, its up over 150% and now you decide to jump in, I wouldnt, Im long FAZ in the mid 60's, C is way overbought from the levels it was just trading at a few days ago. The longer and higher this rally goes the harder the fall, wait patiently for FAS to come back down below $20, do not buy it now, it might be good for a little more upside but I think the move is 75% done already on the upside.
I also got long FAZ friday just under 60. Have to go small with these 3x ETFs. Look at the range since it launched. Wild moves.
Options trade on these 3x ETFs as well. May be safer to play options very small b/c you know your max downside. Whereas with the stock you can be subject to a monster gap that blows through your stops and just keeps going against you. I got long Dec. XLF calls last Friday when XLF was in the low 9s but looks like I would've gotten more bang for my buck with the FAS calls.