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Ultra and Inverse ETFs: The Downside of Doubling Up

For sb-tiger or anybody that didn't get the 2% vs 4% thing:

Lets say a normal stock was at 100; went up 10% one day, then down 10% the next:

100 * 1.1 = 110
110 * 0.9 = 99 ( A 1% loss, as explained above )

Now if you double the losses & gains:

100 * 1.2 = 120
120 * 0.8 = 96 ( A 4% loss as explained above )