On 2/24 our rankings for main keyword dropped from number 1/2 to number 5. Secondary keyword went from number 1 to number 20+. Ranking has not changed since.
On 5/19 we received a notice of unnatural links TO the site in WMT. No ranking changes have been seen in correlation to the notice as of 5/21.
We have 6 industry related, product specific sites on one server that all link to each other. Since the notice we have added no-follow tags to those links. Any other links to the site were not created by us and are beyond our control.
Our websites are informational/ecom. No affiliate links, no adsense,, no advertising, no outbound links.
Question #1: since we are still on the first page should we submit a reconsideration request?
Question #2: do you think the notice received on 5/19 is an indication that the ranking drop on 4/24 was do to link related penguin penalty OR is it an indication that a future ranking drop is coming?