从狂欢到急刹车，多只LOF产品上演涨停跌停一日游

Core Viewpoint - The recent volatility in the LOF (Listed Open-Ended Fund) market highlights a rapid shift from a bullish sentiment to a bearish one, driven by irrational speculation and high premiums on certain LOF products [1] Group 1: Market Performance - On December 25, the Guotou Silver LOF experienced a trading halt with a significant sell-off of over 1.3 billion yuan, ending its three-day streak of gains [1] - Multiple LOF products, including Guotou Ruiying LOF and Guotai Commodity LOF, also hit their daily price limits, contrasting sharply with the previous day's performance where over 19 LOF products had collectively surged [1] - The premium rate for Guotou Silver LOF peaked at 61.64%, indicating extreme market conditions and speculative trading behavior [1] Group 2: Investor Behavior - The surge in LOF prices was largely fueled by a "risk-free tutorial" circulating on social media, which amplified irrational trading activities [1] - The trading dynamics revealed a fragile market structure, where some products could be pushed to their limits with minimal transaction volumes, raising concerns about the sustainability of such price movements [1] - Industry experts caution that the original intent of LOF funds is to facilitate asset allocation for investors, rather than serving as short-term speculative instruments [1]