Despite the polling, it seems more likely for the opposite to happen.
In 2008 President Obama won four states by small (that is, under 5% -- Florida, Indiana, Ohio, North Carolina... NE-02 if you count that) margins and lost two (Missouri, Montana) by similar margins. But while he was winning some electorally-huge states by 15% he was losing some others by 20% or more.
The President could lose 4% of the popular vote in an even swing from 2008 to 2012 and still win the electoral vote (barely) while losing the popular vote because he would still win every state that Dubya never won and both Colorado and Nevada. This is the bare minimum for an Obama victory, and it indicates that President Obama has endured most of his vote loses where they can hurt him least. If he wins a little more he wins Virginia and the popular vote. If he loses a little more he loses Colorado and the Presidential election in both aspects. It wouldn't take much of swing beyond that to also lose Iowa and New Hampshire as well as put Minnesota, Pennsylvania, and Wisconsin in jeopardy.
But there are few even swings. It's easy to imagine the President gaining a little in Virginia against the tide and winning it and still winning the popular election even if he lose Colorado.
"The opposite" is unlikely. It is unlikely that he is gaining in a raft of states in which he got clobbered in 2008 while undergoing greater and more severe losses in the States that he must win.
