On Tuesday, Gallup's seven-day tracking poll had Barack Obama and Mitt Romney tied at 46%. With the incumbent stuck below 50% on the ballot and Mr. Romney's favorability rising, the Republican challenger has a good shot at winning. To take the White House, Mr. Romney needs 270 votes in the Electoral College. A "3-2-1" strategy will get him there. Mr. Obama long ago lost his chance to duplicate his 2008 performance. A record of failure will do that. He's now forced to fight for states he easily won in 2008. The odds now narrowly favor a Romney win.