Going Public When You're Interviewing - Good or Bad?

Interesting "etiquette" question on letting your boss know that you are interviewing.  For me it's more about strategy.  If the boss is going to find out get the upper hand by letting him or her know as soon as you can.  Or use it as a negotiating technique.  Even if this does not mean more money or better conditions right now it can in the future. 
Keep quiet about interviewing or not?
 

 

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