martinibuster - 12:16 am on Nov 2, 2012 (gmt 0)
What happened to all the talk about trying to appear natural? Using the disavowal tool, without having incurred a manual pentalty, is an attempt to manipulate your rankings. You can say you're protecting yourself and describe the exercise in a million different shades of gray or white to explain that it isn't an attempt to manipulate the algo. But it is, essentially, an attempt to manipulate the rankings and I will explain why.
One can present the counter-argument that keyword meta tags are an attempt to manipulate the rankings and someone else can answer that it's simply clarifying what your site is about. The essence of SEO is OPTIMIZING, which means making it easy for Google to understand what the web page is about. Submitting a list to the disavowal tool goes way beyond that. Now you're no longer clarifying what your page is about and making it easy to crawl, tuning and playing your own guitar. Now you're reaching out to the algorithm and plucking it's link graph strings.
It would make sense for Google to drop a yellow flag on any site using the disavowal tool that hasn't incurred a manual action. Deserves a closer look to discover what they are missing with the algorithm.