100x Leveraged ETFs

This just in from the holy shit department.

http://www.etfexpress.com/2009/11/17/kelly-capital-launches-100x-leveraged-etfs

100x leverage is insanity. This product is just looking to give ETFs a horrible name.  Now you're going to hear the news about Johnny Investor going broke because he used ETFs as a vehicle.  Naturally, the particulars of the ETF will be left out giving the whole ETF industry a bad name.  I suppose we all know that ETFs aren't going away and people who take the time to understand the products and avoid crap like this will come out ahead.

UPDATE: This appears to be a hoax.  http://www.jasonkelly.com/2009/11/first-100x-leveraged-etfs.html

Funny.