silver in backwardation, set to explode, page-45

Well a bit of a bullish run after the NYMEX session closed last night, shows how volatile silver can be. I suspect it is due to the following story;

Fed Pushes On With $600 Billion Stimulus on Slow Growth
http://www.bloomberg.com/news/2011-01-26/fed-pushes-on-with-600-billion-stimulus-on-slow-growth.html

The forward spreads keep falling, but I need to wait till tomorrow to see what this current run up does, if the spreads are still falling I'd say its awefully bearish (stil a fair way off genuine backwardation though).
It does make me nervous, did silver bottom early this week? I don't think so, its still lower highs and lower lows, but we will find out in due course.