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Are you missing the boat? Possibly. With Google AdSense which targets ads based on content, sometimes the ads end up being almost valuable navigation for your readers.
I'd try putting your adsense block between the end of the blog post and your comment form. This would give your readers a "next link" to click through after they're done reading your blog entry that could net you some small CPC income.
Of course, this all predicates on the fact that what you blog about is content that advertisers are trying to target. There could be useful ads or there might not be. I always keep an eye on what ads are being served (and which ones are being clicked through) on my blog, to ensure that there's at least some chance that the ads are benefitting some of my audience.