Leveraged ETFs and a Risky Arbitrage Strategy

Seeking Alpha article  on using leveraged ETFs for a risky arbitrage strategy. "So if holding the leveraged ETFs for a long time may not be very profitable, what about selling them? Here is a pretty risky arbitrage strategy that should work as long as the market stays volatile. This one is best left for the gamblers among us. Sell short the leveraged ETFs in pairs."