1.   And highly leveraged speculators may have to sell Treasuries, putting more pressure on prices.

2.   All this is not to deny that speculators had a lot to do with the current problems.

3.   Land speculators have bought land along both sides of the border for use of the direct off-load of Mexican products into U.S. trucks.

4.   Speculators generally have high expectations and always feel that the market should trend upwards.