It’s still early, but at least right now, the electoral chances look good for Obama’s reelection. He is leading in states with a total of 240 electoral votes, and just needs to win 30 more. There are multiple combinations which can get him there. Romney needs to win 70 electoral votes, which is really difficult, because all the big states are leaning to Obama.
The current electoral map in more detail can be seen at http://elections.huffingtonpost.com/2012/romney-vs-obama-electoral-map and shows the following states as a tossup:
Ohio – 18 electoral votes (leaning Obama slightly)
Iowa – 6 electoral votes (leaning Obama slightly)
Florida – 29 votes (leaning Obama slightly)
Michigan – 17 votes (leaning Obama slightly)
Virginia – 13 votes (leaning Obama slightly)
Wisconsin – 10 votes (leaning Obama slightly)
You can see there are multiple combinations of two states where Obama is currently leading which can take him to 270.
Romney on the other hand is only leading in one tossup state – North Carolina, so it’s much more difficult for him.