Answer:
Glittering points that downward thrust. Sparkling spears that never rust.
What goes in the water red, and comes out black?
What goes further the slower it goes?
Three little letters. A paradox to some. The worse that it is, the better it becomes.
What has roots as nobody sees, is taller than trees. Up, up it goes, and yet never grows?
People take me on walks and I run and have fun. What am I?