@Thomas,
No, the problem was how big the bump went
at that point. This is confirmed by the fact that the bump then deflated later.
It was too much too early. Obama's chances were artificially inflated by a combination of factors -- his chances were good, but not that good.
So when his chances then took a nose-dive, I saw it more as a correction than as an indication that it was suddenly more likely that he would lose than that he would win.
I was going directly contrary to most pundits I was reading at the time in that prediction, btw. They were mostly gloomy and Andrew Sullivan was positively freaking out.