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Technology Stocks : Aware, Inc. - Hot or cold IPO? -- Ignore unavailable to you. Want to Upgrade?

To: Paul Lee who wrote (2300)	1/12/1998 12:37:00 PM
From: Norman Klein	Read Replies (1) \| Respond to of 9236

Why is the spread so large?? Hopefully someone with more market expertise can explain this to me. Why does the spread between the bid and ask keep spreading?? The bid keeps going lower (10 3/8) and the ask keeps going higher (10 7/8). That is a 1/2 point difference. When rounded off, that is almost 5 percent (which isn't a bad profit). The volume is up (~150K day), so I don't think that poor liquidity can be accepted as an excuse. Is this simply the MM screwing over the small investor??