Here is how Barone sees it:
"The dynamic I see in the Republican race is this: Five candidates have reason, from their own points of view, to continue their candidacies and no motive to stop anytime soon:
* Mike Huckabee won the Iowa caucuses and has some reasonable prospects in South Carolina on January 19.
* Romney, having won “the silver” in Iowa and New Hampshire and being in possession of a checkbook with $50 million in liquid funds, will contest Michigan and has no motive not to continue if he doesn’t win there.
* McCain, celebrating his win in New Hampshire, gave a speech that was in the nature of accepting the mantle of national leadership, and plausibly so.
* Fred Thompson, absent from tonight’s television but fresh from a fine appearance on Fox News’s Sunday night debate, has no motive to withdraw to private life.
* Nor does Rudy Giuliani, whose sterling policy achievements and unforgettable leadership after the September 11 attacks may still resonate as they did in the first half of 2007 but have not, at least in presidential polls, in the past two months."