There are tremendous causalities with this latest Google algorithm update targeting "webspam" named Penguin - tremendous.
Almost 65% of those who responded to my poll, about a thousand of you, said you had a negative impact with this latest update. Trust me, I feel really bad for you and if you are squeaky clean, do submit your site to Google for review.
(1) What the traffic drop looks like:
(2) What the keyword ranking drop looks like:
Scary looking charts, don't you think?