There is an interesting phenomenon in market trading—major holidays often become key windows for the battle between bulls and bears. In previous years, the routine was that during certain market closures, active exchanges would create sharp volatility to hunt for the other side's investors, forcing them to liquidate through rapid rises or plunges. But recent situations have somewhat reversed.

For example, during the Christmas holiday, Western futures markets go into a closed state, while Eastern markets continue trading. In the past few days, prices of commodities like silver and copper have surged significantly. When overseas markets reopen, the short side suddenly faces already elevated prices, and risk exposure instantly expands. Those short positions that didn't keep up with the market during the holiday period find themselves passive at the opening—under such circumstances, the risk of liquidation is indeed considerable.

The market is always looking for the opponent's weak points. Off-hours trading during holidays, liquidity differences, and information asymmetry are all factors traders need to consider. Interestingly, market dynamics are constantly evolving, and historical routines may not necessarily guide the future.