The state of the Senate races is very fluid. I’ll begin by listing the seats I have 100% confidence that the Democrats will win.

VIRGINIA: Fmr. Gov. Mark Warner defeats Fmr. Gov. Jim Gilmore
NEW MEXICO: Rep. Tom Udall defeats Rep. Steve Pearce
COLORADO: Rep. Mark Udall defeats Fmr. Rep. Bob Schaffer

I have about 90% confidence that the Democrats will win these seats:

ALASKA: Mayor Mark Begich defeats Sen. Ted Stevens
NEW HAMPSHIRE: Fmr. Gov. Jeanne Shaheen defeats Sen. John Sununu
OREGON: State Speaker Jeff Merkley defeats Sen. Gordon Smith.

So, I predict with at least 90% confidence that the Democrats will pick up 6 senate seats. I have better than 50% confidence that:

NORTH CAROLINA: State Sen. Kay Hagan defeats Sen. Liddy Dole.

The Minnesota race is impossible to predict due to presence of a very strong third-party candidate. Al Franken is narrowly ahead in some polls and narrowly behind in some polls. I consider the race a true tossup. I have better than 50% confidence that the Dems will pick up seven senate seats, and I have 50% confidence that they will pick up eight seats. The next three races are competitive:

GEORGIA: Jim Martin vs. Sen. Saxby Chambliss

Analysis: Due to the Democrats huge advantage in early voting, this race is in the toss-up category, even though Chambliss has consistent, if narrow, lead in the polls. A Libertarian candidate that is polling in low single digits makes it hard for either Chambliss or Martin to crack 50% of the vote. According to state law, an election that does not result in any one candidate reaching 50% will result in an early December run-off election. That appears to be the most likely outcome. Predicting who would win such a run-off is near impossible. I give Martin about a 40% chance of being the next senator from Georgia.

KENTUCKY: Bruce Lunsford vs. Minority Leader Mitch McConnell

Analysis: McConnell has maintained a narrow lead in the polls in a state where McCain is expected to do very well. Lunsford cannot be counted out, but he cannot be considered as a favorite, either. I give him about a 25% chance of winning the seat.

MISSISSIPPI: Fmr. Gov. Ronnie Musgrove vs. Sen. Roger Wicker.

Analysis: Musgrove has been declining in the polls at a gradual rate throughout the last month of the campaign. It is these negative trendlines that lead to my pessimistic assessment of this race. There is no doubt that black turnout in Mississippi will be at all-time high levels, so the Democrat cannot be counted out. I give Musgrove about a 25% chance of winning the seat.

I have 40% confidence that the Dems will pick up 9 seats, and 25% confidence that they will pick up 11 seats.

We can break the rest of the senate races into three categories. The first category is for the races that still could surprise.

LOUISIANA: Mary Landrieu vs. John Kennedy

Analysis: All along, this has been the Republicans only realistic chance of unseating a Democratic incumbent. I don’t see anything to worry about, though, based on the polling.

TEXAS: Rick Noriega vs. John Cornyn

Analysis: If there is one race that could really slip by the radar, this is the one. Noriega should be doing better but he just hasn’t had the money he needed to compete in such an expensive state. Cornyn is not popular and Obama supporters will be much more enthusiastic about voting than McCain supporters. The Latino turnout could surprise the pollsters.

MAINE: Rep. Tom Allen vs. Sen. Susan Collins

Analysis: Obama

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