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Investing in Ultra Dow EFTs DDM and UDOW?

#1
Has anyone invested in, or know about, ultra leveraged ETFs DDM and UDOW.  If they leverage the DOW and the DOW historically goes up, wouldn't it make sense to buy one of these and just hold it and get a higher return?  Is there any downside, i.e. does it expire like an option?
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#2
They are meant to be daily trading devices and need to be highly monitored. Holding them long term is not the objective
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#3
It does not expire, but it doesn't work like that. Buying and holding doesn't usually, work - it resets daily. Just look at the charts (I haven't) - these are day trading vehicles, not even suitable to hold over night. I'm not  saying they are "bad", and sometimes you can grab them low and hold them for a gain......but the ride will be bumpy.
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