Paul,
Wonderful analysis; now tell me what to do! :)
Prior to the close today, I bailed out of TNA and jumped into TZA. Sold the TZA 2 minutes before the close. This is the only advantage of watching the soap opera, called the stock market: one can reverse course at an obvious inflection point.
But Trev-- are you out there?-- the Jesse Livermore rule about not wasting time during times like these sure proved correct.
Peace all,