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hunderdown - 4:19 am on Jun 5, 2006 (gmt 0)
While certain topics are obviously seasonal, I think the vast majority of sites are not. But your site's visitors may well change their surfing behavior over the summer. That's what you need to watch out for. As a few others have said, I see somewhat less traffic over the summer, but the visitors I do get some more focused (or something) so earnings do not slump. In fact, August '05 was my best month last year.
What are the characteristics of a site likely to suffer a Summer Slump?
I'd hazard a guess at most sites and topics that are not directly related to summer activities. So if it's not sports, leisure, sunburn advice, holidays, daytrips and so forth, it could be at risk of the slump.