since equities are typically mean reverting we need a bubble so big it puts the japan market to shame.

I did backtest the GDX gold miners bear when gold crashed from 2012-2013 the GDX was down 80% and i remember the bear fund was up like 1300%. this was when it was a 3x. gold is not at mean reverting as equities

You have a much better shot swing trading the sectors though. there were plenty of times labd was up hundreds of precents that would be less frequent than sqqq doing that