Reciprocal Links/Link Exchange – Does this hurt SE positioning?

Reciprocal Links or Link Exchange for SE positioning

[GV_Excel]

We have more than150K pages listed in GOG.
We were doing pretty well for specific keyword phrases (with two are three keyword combinations).
All of sudden we are dropped in our SE positioning for past 18 days in google.
We didn’t do any changes to our site except we have started exchanging links using "link exchange program".

Any suggestions or comments would be appreciated. Thanks in advance.. GV

[jo1ene]

Using "programs" otherwise known as "schemes" is generally frowned upon. I would stick to contacting webmasters personally to get quality links. Besides that, G did recently update their stuff. You may just be seeing a "normal" shift.