What do the results of the midterms mean for Obama's chances in 2012?

What do the results of the midterms mean for Obama's chances in 2012? According to Larry Sabato and Alan Abramowitz: not much. In particular, they find that "there is no statistical relationship between a midterm result and the outcome of the next presidential election." In other words, we don't know any more about Obama's chances in 2012 now than we did before the election. For more, read their analysis here (Warning: people who do not understand sarcasm may get the wrong impression if they read this quickly).