What I tried and succeed:
1. I copied all content and saved in my hard drive
2. I completely uninstalled and reinstalled the wordpress script and created a totally new site (still the same domain)
3. I edited all articles (same articles) and posted gradually at the rate of 3 per day.
4. Instead of putting direct CPA links, I created more than 50 blank files (1 per product I am promoting) and uses these links to redirect to the actual offer page. So when google check my links, all considered internal.
5. Now, my website is promoting more than 50 products but there is no single direct outside affiliate link. All are 301 redirect.
6. After 4 days, my site is getting back into ranking (now on 42nd).
I think the major factor is the linking... I remember a video with a google engineer discussing about SEO that lots of ads and outbound links are major factor in ranking....
hope it helps a little.