Problem with absolute path

[Juergen Schmidt]

Hi,

i have problem with make when i try to generate the output anywhere and 
using an absolute path. Please see my simple test makefile (when i run 
make i am in /local/test/maketest where the source "maketest.c" is located):

**********************************************************
OUT=/local/test/maketest/myoutputdir
#OUT=./myoutputdir

.PHONY: ALL
ALL : Maketest

.SECONDARY:

$(OUT)/obj/%.o : %.c
   mkdir -p $(@D)
   gcc -c $< -o $(OUT)/obj/$*.o

$(OUT)/bin/% : $(OUT)/obj/%.o
   mkdir -p $(@D)
   gcc -o $@ $<


Maketest : $(OUT)/bin/maketest
   @echo "**************************"
   @echo " Maketest build succesful"
   @echo ""
   @echo " make maketest.run"
   @echo "**************************"


%.run : $(OUT)/bin/%
   cd $(<D) && $*
**********************************************************

The source is trivail and it should be simply build.

When i change the variable OUT to a relative path (the second verson of 
OUT) everything works fine. Do i make something wrong?

Regards Juergen