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Hi guys, some good answers above, however in regards to Panda I do not believe link building is directly connected. Are links from Panda hit sites as valuable as they used to be? That is still being debated and I am yet to see any clear tests on it. Although commons sense tells me links from pages Google deems poor should have less value! However you can read a little about it on question 3 here: http://www.sugarrae.com/link-development/link-building-with-the-experts-2011-edition/ (although it is worth reading the whole article!)