Keep adding quality content to your site and get a good nights sleep Really, at this point in time - there is nothing you can do to "fix" it. The goal posts are being moved and the lines redrawn. Eat your half time oranges
Give it a week I wouldn't worry about it to much until then alot of sites often fluctuate, Ive had sites had all there pages removed from the index, and dropped from the results, to reappear a week later with thousands more pages indexed and higher standings.
I really hope its not de-indexing most of my site for a week. That may cost me loads. I may have to resort to the EVIL CPC Oh well thats life........
looks like I spoke to soon - my formerly #3 ranking site for my main keyword now appears in position 77... grrr. I really hope it does 'sort itself out'!
I have been monitoring my site throughout today and it has slowly started to become cached again over some datacenters (http://livepr.raketforskning.com/?u=...catering.co.uk). I have performed a search on a couple of the datacenters that have regained the cache with my best keywords and the results look similar to before the PR update. So I am feeling a bit happier than I was yesterday. Although at the moment traffic from Google has plumeted to an all time low.