  The theoretical predictions of the converging inflow, or Bulk-Motion
Comptonization model are discussed and some predictions are compared to X- and
gamma-ray observations of the high/soft state of Galactic black hole candidate
XTE J1550+564. The 100 Hz QPO phenomenon tends to be detected in the high-state
at times when the bolometric luminosity surges and the hard-power-law spectral
component is dominant. Furthermore, the power in these features increases with
energy. We offer interpretation of this phenomenon, as oscillations of the
innermost part of the accretion disk, which in turn supplies the seed photons
for the converging inflow where the hard power-law is formed through Bulk
Motion Comptonization (BMC). We further argue that the noted lack of coherence
between intensity variations of the high-soft-state low and high energy bands
is a natural consequence of our model, and that a natural explanation for the
observed hard and soft lag phenomenon is offered. In addition, we address some
criticisms of the BMC model supporting our claims with observational results.
