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Thanks.
In other words, don't feel that you have to get the links changed before you effect the 301 redirect. I would do that straight away.
The drop may be due to the fact that more people link your second domain instead of the one you want to promote.
Actually the domain I want to promote has more links than the one listed in the serps. I registered the second domain before this update may be google bot crawls the new domains first?(just a guess) so it dropped the main domain for identical content?
You guys give great support and you are friendly too :) I am happy being here.