Another Direxion oil ETF, known as the Direxion Daily S&P Oil & Gas Exp & Prod Bull 3X Shares (GUSH), got crushed Tuesday after oil prices retreated.  

Members in Pinnacle's monthly Stock Challenge have been working to take advantage of the leveraged nature of various ETFs in both the gold and oil sectors for years. On Tuesday, the power of leverage backfired on one member as Direxion oil ETF ‘GUSH’ led all decliners.