There is many threads talking about drops in rankings, and whether its a penalty or a dance. Im experiencing the same, but my example is very different to the majority ive found on here. I hope you can give me some reassurance and we can all learn from it. My website is on 15 year old domain (PR4), its an eccomerce site selling unique products. There is no possiblity of duplicate content, and the content for the best part has been the same for 15 years. The only change in content is a new product or a feedback etc. Weve always ranked very well, and for 10+ years have always ranked 5th to 8th for our main keywords and as high as 1st for other keyword variations. Id like to say again that weve never moved off first page, our rankings have never varied in 10 years of google algo changes. I did some seo 10 years ago which got our rankings and have done bits and bobs between then and now. We have many many natural links built by customers over the years. Thanks to my initial seo, when exact anchor text worked, my anchor text profile has always been heavily weighted to my main KW. In Jan we was ranking 7th and a new competitor had came above us, not out of merit but from profile links, article submission etc. This made me start thinking about turning my attention to SEO. I was quite careful not to over do it, since end of Jan I started to build several pyramids which to date probably end in 100 odd web2s pointing to my MNS. IVe done some directory submissions, and article submissions str8 to money site. NO mass building of links to MNS with xrumer or SB. Even in my pyramid the xrumer/sb part was less than 1000 links, many of which didnt get indexed. The anchor text had some exact match but mostly variations of main keyword. Most of the links I posted was indexed using lindexed. In addition to these lower quality links weve placed several HIGH pr links on charity sites by providing free services to them. So we have made about 10 homepage/site wide links on sites of pr4,5,6. I had some good success, with the main keyword variations moving up rankings greatly and I was making more money. Great I thought. Notably 2 weeks ago we placed a home page link on a Pr7, this site has a home page link itself from a Pr9 United Nations website, so a very trusted link indeed. 1 week after this link went live our main keyword went from 7th to 4th, fantastic! Anyway, 2 days ago (1st of march). Our main kw dropped from 4th to 14th, and almost everyone of our keywords have dropped several positions. Some newly ranked ones have dropped completely. Obviously this made me feel pretty sick, im the technical lead for this company, whilst it isnt my money. Thousands of pounds have potentially been wiped off our monthly turnover, which based on it being a solid 15 year old site, must have something to do with my link building. The site hasnt danced over last 2 days, its just sat there in 14th looking miserable. We spend a million pounds with adwords and have done for years, we use analytics, GWT etc. No messages in GWT, everything looks normal. So my questions for you guys.. 1. Is this a penalty or a dance? I find both hard to believe as surely it cant be that easy to damage a sites rankings, otherwise I should be doing it to my competitors! But also how can it be a dance, how can link building make my site drop massively below where its been for years? 2. If it is a penalty what should I be doing now? 3. Has anyone got experience of placing a PR7 high trust link like the one I described above? Could that possibly trigger a recalculation or a major update?