%% It sure could,SWB, but why WOULD---it?? Like Art Cashin said, shorts[S&P ] help fuel the rally. And far as his original question, on 3X ETFs- ETNs drops, going bankrupt??Maybe be more likely in a sector fund; but that is real unlikely also; FAZ-FAS has about 714/+ prospectus pages-reasons why that most likely will NOT happen. NOT only do they keep the dividends on their longs, LOL; but they have 24 hours to price FAZ or FAS..............................................