Typically a leveraged, inverse ETF such as this would be used as a hedge, or for speculation purposes.

FORBES: Small World Currency ETFs

Inverse ETF prices go up when the underlying stock prices go down.

FORBES: Super Committee Sets Up A Great Opportunity To Short Health Care

Look to short banks on market weakness, or even potentially playing an inverse ETF like FAZ long if you have the risk appetite.

FORBES: Sticking With Amazon And Apple As The Fed Goes Twistin'

Our technical indicators caught the reversal, the apparent intention of bonds not to cooperate, and our downside position in an inverse bond ETF is paying off.

FORBES: Bonds And Dollar Defy Bernanke

For those that want to bet against homebuilders, there is no inverse homebuilding sector ETF available.

FORBES: Homebuilder Heavy ETFs

This quote from the FT.com encapsulates the key reason why both Jack Weyland and Justin Uyehara have used TWM, a double inverse the Russell 2000 ETF to hedge their portfolios from time to time.

FORBES: Why TWM Makes A Good Hedge

Other inverse leveraged options include the ProShares UltraShort Financials ETF (NYSE: SKF), which is leveraged two-to-one, rather than three-to-one like the Direxion fund.

FORBES: Backing Out Of Overbought Bank Stocks

Inverse options for the midcap group include the ProShares UltraShort Midcap 400 Index Fund ETF (MZZ).

FORBES: Midcap Stocks Coiled For Bounce After Big Sell Off

This ETF seeks daily investment results, before fees and expenses, that correspond to the inverse of the daily performance of the FTSE China 25 Index.

FORBES: How To Trade On Rising Chinese Inflation