The pop is due to the huge quarter SUNOCO posted which means that ETP got an even better deal at the selling price. Their acquiring stock is worth less and SUNOCO is worth more which translates into more money for ETP partners like you and me. Good luck to us all.
Why the pop? Why the drop?? It has to move one way or the other. After a period of weakness it has recovered a little so far today. If you like the distribution these movements are not so important. If you are trading then make your best guess and good luck
At some point, ETP and other beaten up MLPs are due for a change in direction. The mkt is resilient, money is being given away by the central bankers ... and at some point the nat gas world is going to become more critical. Why not buy at these levels??