---- Site has fallen since Penguin, clueless as to why
Whitey - 6:47 am on Sep 18, 2013 (gmt 0)
I don't know, maybe a competitor has created a site to give us bad links? I have a list of all my backlinks via Webmaster Tools but have no idea what links are hurting or helping the site.
Studying the link profile is a good start and deciding where you are going to either pull off referring links, or disavow them.
Why can't you tell which ones are likely to be offending. Surely there must be some more than others that stand out in the profile. Multiple exact match anchor texts , over optimization , money keywords, links from similar or networked sources. You should see the clues in your analytics as to which keywords were hardest hit.
If you can't work it out, you can always put your site up for review to get some quick inputs from folks who'd want to help you: [webmasterworld.com...]