Let's look at Silver....

Let's check out the relationship between the Silver Trust ETF (SLV) and the Proshares Ultra Short Silver ETF (ZSL).

If you look at the weekly charts you can see that ZSL has an all-time high of $242 set on the week of February 5, 2010.

At that same time the Silver Trust (SLV) was at a low of 14.27

Currently:

SLV is at 31.21

ZSL is at 18.05

Now I'm no mathematician, but something funny is going on here.  So basically a 118% rise in the SLV leads to a 92.5% drop in ZSL.  So if SLV drops back to 14.27 will the ZSL go back up to $242???

That my friends shows you how messed up these ETFs are!!!!

I showed you the SLV chart earlier.  Here is the ZSL chart: