In his last thirty-one days, Todd Helton's hit percentage is at an unbelievably low 19%. League average is 31%. As it is mostly a factor of luck, this explains much of why Helton has been struggling of late. He's just been unlucky.
Certainly, he is not the player he was a few years ago. However, I'm expecting a sizable adjustment with Helton in the near future. You just don't carry around a 19% hit rate forever. I just traded Konerko for Helton and Bedard (I was mostly after Bedard, but decided to gamble on Helton).
I would not give up on him yet, though I would stash him until his luck changes.