Weakening Channel Breakdown?

2012年11月23日I'm somewhat short biased here as recent price action has failed to give a confirmation long signal. I'm expecting this channel to breakdown to about the 6.50 level. If price action does does close above 7.50, I'm looking for a long to about 8.50.

Proprietary Option Plays

[Short Entry]: Jan Put, Strike:9
[Long Entry]: Jan Call, Strike:5