Clinton strategist Mark Penn serves up his take on last night's results in a new memo titled "A New Day." Penn writes that Obama was "unable to close the deal with voters" on Super Tuesday noting that while Clinton scored double digit victories in the biggest primary states of CA, MA, NJ, NY, OK, and TN, Obama's victories were more limited:

Sen. Obama, in contrast, won with large margins in Alabama and Georgia, two states that have been in the Republican column in the last two elections. He also won with large margins in a string of caucus states with comparatively fewer voters - Alaska, Idaho, Utah, and Kansas - and have also been in the Republican column. Of course, he won his home state.

If the Democratic Party used a "winner-take-all" system, Hillary Clinton would be en route to being the nominee given the pattern of her victories. But the proportional delegate system keeps this contest going with two candidates who have significant support. [snip]

The clock is also running out on Sen. Obama's venue of choice - the caucus. There are only five remaining caucuses, the last one in early March. Hillary, on the other hand, has excelled in the large state primaries - the states that will have the most impact come November. Although the remaining February map will favor Obama, the remaining three large primary states -- Ohio, Texas, and Pennsylvania -- are states with a lot of delegates, strong support from elected officials there (governors of Ohio and PA), and who see Hillary as the candidate with the solutions to the problems they face.

It's not a totally unconvincing argument, though it does put the best possible face on what happened last night - which is Mark Penn's job.

For a different take, read Jim VandeHei and Mike Allen's excellent analysis in the Politico giving 5 reasons why Clinton should be worried.