That's a hedge big enough for Versailles. Basically, we need to see more polls in Nevada.
Here's an envelope sketch: last five polls in Nevada are +7, +2 (Ras), +3, +7, +3 (PPP). Six point bump since PPP's last visit on 8/26 is on the high side -- the only state they've shown such a movement for in the last month is Wisconsin, which was moving out of norms because of Ryan in August. Usually they're showing 2-4 points of improvement. If we assume a nationwide shift, which is not inconsistent with MOST of the data, then Nevada +5 or so seems like a reasonable benchmark, splitting the difference between the polls -- which suggests basically a tossup in the Senate, as cartoon_soldier and Ralstron suggested.
Of course, just averaging the polls is basically the safest possible position to take, so it's not surprising he took it. Here's another perspective -- Obama's reaching his 2008 margins in a number of states. In Nevada, he beat McCain 55-43. That's even better than PPP's numbers. Of course, he wasn't running against a Mormon in 08. But even edging his position back quite a few points makes PPP's poll look significantly more likely -- which would suggest a slight Democratic lead in the Senate race.
Who knows?
edit: From that Red State article:
Erickson said:
As an exit point, with all of President Obama’s statements on tolerance in his speech, we should remember that tolerance is really not a Christian virtue.
Yeah. The American way indeed.