"Lets be honest , no one really has a clear explanation."
This statement is probably true for most short-term market trading, considering how many private motivations for buying and selling there can be. So we have to pretty much draw our individual conclusions. I have basically three regarding LNCO: (1) short-term speculators placing short-term bets on the spread between the two companies, (2) profit-taking by folks who entered on the ground floor, and (3) (taking a different view from Roger's) concern about higher corporate taxes come 2015, which could really impinge on the distributions. (And, farther along, aren't there major taxes to be paid when LinnCo's cost basis in LNCO units drops to zero?)