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I am guessing a bit of both, certainly seasonality plays a part, but I have to say my views and income are at a record low since the original Panda hit and subsequent recovery (at least in my experience). Mine have got much worse in recent weeks.
Ugh. That is discouraging.
Paul Edmonson just said about a week ago that Google had a new algorithm update on the week of the 4th of July which is this week.
Thanks, susi. I wonder what's the deal with all the updates. My traffic was already bad before this week, but it is worse. I'm making half what I was. One day it was just 1/3rd of what I used to make per day. I hope it gets better soon.