Aware, Inc. - Hot or cold IPO? Message Board

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Technology Stocks : Aware, Inc. - Hot or cold IPO?

AWRE 2.160

-1.4%

Nov 28 9:30 AM EST

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To: Steve Morytko who wrote (2163)	11/20/1997 7:44:00 PM
From: David Lawrence	of 9236

It just means there is more depth to the buy order(s) at 11 than there is to the sell orders at 11-5/8. For all we know, there are 10,000 shares to sell at 11-11/16, but we don't have access to see that. As an aside, all this business of quotations in 16ths and 32nds doesn't mean the spreads have narrowed. Good luck getting any sizeable order filled at that price. Often the depth is only 100 or 200 shares (small trades), and there are a lot more shares at the next tick up or down. If anything, it's made it more difficult to see which way the bid & ask (volume) are going, because it's hidden behind the small bid and asks. At least, that's my understanding, shallow though it be.

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