Leveraged products are trading rather than investing tools. Leverage comes at a price, which is time decay. Therefore, timing is everything when approaching a market using a leveraged instrument.
Products that offer market participants gearing can act as the asset on steroids when it comes to percentage performance. However, when the price moves in the wrong directions, the tools can become dust collectors in a portfolio. The Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) offers twice the daily price performance of the VanEck Vectors Gold Miners ETF product (GDX).