UNG and natural gas: new 2X Leveraged ETFs for natural gas

Direxxion, the company that specialized in infamous leverage ETFs has now released 2X bull and bear ETFs for natural gas.

Leveraged ETFs are notorious for losing most of their owners' money. In Canada, 2X gas ETFs have existed for years. In general, these ETFs do not reach a $0 value because they do reverse splits.

Consider the HNU chart:

It is a beautiful asymptotic curve that tends to zero (beautiful unless you own it).

The Direxxion ETfs are GASL and GASX. The Direxion Daily Natural Gas Related Bull 2x and Direxion Daily Natural Gas Related Bear 2x ETFs seek daily investment results of 200% of the price performance, or 200% of the inverse of the daily performance (before fees and expenses), of the ISE Revere Natural Gas Index™.