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First, I would check to make sure the your site is still indexed, which I would imagine it is if it's showing up at all.
Second, rankings can fluctuate frequently. There are many reasons of how or why this is happening. Some, could possibly be:
-Competition increasing
-Losing backlinks
-Backlinks being discounted
-Updates to your site-structure
-Internal links and content
-Updates within the search engine
-Duplicate content
These are just a few criteria which will affect your site. My advice to you, is to keep building backlinks (shoot for some high quality ones), and make sure to add content frequently to make sure your pages gets crawled more often.
Also, I have a question for you. Are you dropping for multiple keywords, or are you dropping for only one?
I have seen sites which were in the top 10 for a keyword drop out of the top 100 within a week, then eventually shoot back up. Most of the time, backlinks and anchor text played a major role. If you recently started to target another keyword with your link building campaign, then your chances of dropping off with a previously targeted one are good.
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Lex Parsimoniae - "All things being equal, the simplest solution tends to be the right one."
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