It turns out that you can't set up more than 25 sites in your google Analytics account. You can view more sites than that, but any additional sites have to belong to another account. According to their support people, this is a performance issue and they are working on it. 

The workaround:

  1. Create a new google analytics account using a different e-mail address
  2. Create the new web site accounts in the new analytics account. 
  3. Add your main account as an administrator on the new Web site analytics. 

This issue limitation may have been removed now May 2014.