I have seen some substantial drops in traffic two weeks after the panda shift, right around when I removed a paid advertisement that i had that was not no followed.
My site has around 250 linking domains so i figured that losing this one would not have a huge impact but the traffic loss has been substantial. The link was a site wide link, but the home page was a pr 6. I am wondering if this makes sense that a loss of one link could lead to a substantial traffic drop, or if there are too many factors in play to say that this one link could make a difference.
Thanks for you help