Create symbolic links in Cygwin

Create symbolic links in Cygwin

I'm trying to create symbolic links in Cygwin, and I get a "Permission
denied" error every time. For example:
BZISAD0@WS006428 ~/Code
$ ln -s Ruby RubyLink
ln: creating symbolic link `RubyLink' to `Ruby': Permission denied
Instead of creating a symlink it creates an empty directory:
BZISAD0@WS006428 ~/Code
$ ls -dhal Ruby*
drwxr-xr-x 8 BZISAD0 Administ 4.0k Jun 17 15:53 Ruby
drwxr-xr-x 2 BZISAD0 Administ 0 Aug 19 10:56 RubyLink
The directory in which I'm trying to create the link is owned by me and
writeable by me. `ln.exe' in /bin is owned by me and executable. I started
up Cygwin as an Administrator. Nothing I've tried makes this work, yet
according to the Cygwin docs it should work, and I'm pretty sure I've done
it in the past.