On chasing yield in precious metals: A fool's errand?

Been watching the chatter around $USLV today, hitting 13.3698. The +1.92% gain on the day is drawing some eyes, and I can see the appeal of leveraged plays when the underlying is showing strength. However, my long-term view on these leveraged precious metals instruments remains pretty skeptical. While the volatility can offer quick profits on short-term moves, the decay from daily rebalancing, especially in anything but a strong, sustained trend, feels like a silent killer.

I’ve seen too many good arguments for a prolonged bull run in silver or gold get absolutely butchered by holding these leveraged ETNs for more than a few days. It feels like chasing yield in a fundamentally flawed vehicle designed for very specific, very short-term tactical plays, not for genuine investment exposure. You're effectively betting on daily momentum, which is a different game entirely than betting on the metal itself. Am I missing something crucial in how some of you are successfully integrating these into your strategies beyond simple day trades? Push back if you think I'm off base here.