Looks like everyone that bought LABU at 64 had 2 days and change to get out in the mid 80s. Note how the short term 18 period SMA crossing above the 54 was the sell signal. Seeing that, an investor would have waited until the next morning to sell because LABU has been a superstar CO.
Getting hosed by IWM/TNA today was definitely not necessary. SPY and QQQ are more than fine. Value as a mechanism to beat growth is still definitely not a thing anymore as the dog is biting man again.
XHB and especially XLB have also been weak today. Likely the XHB weakness is temporary so picking up some on further weakness is something to consider.