MAG Silver Breaking Out

Tischendorf Letter (12/02/2009)
"Silver stocks are starting to break out of long basing patterns. Although I have followed SLW – Silver Wheaton, SLV—iShares Silver Trust ETF and the price of silver for quite some time on my public list I have somewhat neglected the sector. Today I added MVG—MAG Silver to the list as it popped up in my above average volume scans. This could be the start of a move to the upside. Keep in mind though most silver mining stocks have quite some overhead resistance they will need to fight through. So from a purely technical perspective, there is no need to rush things as they are unlikely to develop immediate explosive momentum to the upside as opposed to stocks trading at all-time highs."

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