1. It would be easier to answer your question if you could tell us what the phrase is...
2. If your site is new then it is pretty usual (altough strange) Google behaviour. New sites move to the top of the rankings quite easily, especially when you start doing some heavy linking. But then Google moves your site back to 'its proper position' or 'way below its proper position' in case Sandbox kicks in. There is nothing you can do about it, just keep building your site, keep adding links and... wait. You definitely can go back to 1st page but it will happen later rather than sooner (it very much depends on the competitvness of your search phrase).
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