The @SECGov just prevented a potential disaster by denying the 3x and 5x ETFs. We looked back and found 350 instances in 5yrs where the underlying in proposed filings moved 33% or more = we would be looking at 1 termination event/week on avg (more if they approved 5x). We all dodged a bullet IMO. Even the 3x issuers should thank them, they need that headache and 2x single stock ETFs allows for plenty of extreme vol.(Eric Balchunas)