* Real Clear Politics’ Sean Trende makes a pretty convincing case that while Obama very likely is in trouble, it isn’t quite time yet for Dems to panic.

* In his speech today to Latino elected officials, Obama reminded his audience that he would sign the DREAM Act, and that Mitt Romney would veto it.

* Sage words from Adam Serwer, who explains why the shortcomings of Obama’s immigration policies, and the steepness of his uphill climb, should temper the enthusiasm a bit:

The president has a big advantage over Romney with Latinos, but his task is arguably harder. With little progress on reform but a verbal commitment to policies Latino voters prefer, Obama has to seriously energize Latino voters to have a chance at retaining the Oval Office. Romney, on the other hand, doesn’t have to win a majority of the Latino vote — he just has to convince enough of them he wouldn’t be that bad.

* Who says Romney hasn’t been clear on what he’d do for the DREAMers? The concrete proposals he has suggested would legalize all of 1.5 percent of them.

* Also today, Obama picked up on the big story about Bain’s investments in companies that pioneered in outsourcing:

“We do not need an outsourcing pioneer in the Oval Office. We need a president who will fight for American jobs, and fight for American manufacturing.”

The Obama campaign rushed out video of this quote, a sign that it views this story as a key moment in the race, in much the manner that the Romney camp viewed the “private sector is doing fine” gaffe as the same.

* If it’s Friday, it’s time for Steve Benen’s regular tally of Romney's most flagrant falsehoods and distortions of the week, and this intallment breaks previous records with a whopping 30.

* Good Post editorial calling on Romney to release the names of his big money bundlers — and noting that the failure to do so sets him apart not just from Obama, but from the two previous GOP nominees.

* A deal appears near in the student loan fight, suggesting Dems and Republicans alike knew the fallout from an expiration of the low rates would be unpredictable for both sides.

* Major Garrett looks at the ways Obama’s DREAM move has sidelined Marco Rubio, a dynamic that’s neatly captured by his refusal to say explicitly whether he opposes it.

* Via Drum, the headline of the day, from Henry Blodget:

Corporate Profits Just Hit An All-Time High, Wages Just Hit An All-Time Low

Charts in the link.

* The news that Romney is vetting Ryan for Veep is yet another sign of Romney’s tightening embrace of Ryan’s Medicare plan and overa’l economic agenda.

* And Steve Kornacki goes there: The conservative campaign against Eric Holder is partly about race.

What else?