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10-02-2007 HLYS - Heelys
CURRENT PRICE: $8.18
TYPE OF PLAY: SITUATIONAL/BOUCE PLAY
While still expecting .28-.30 in the the next quarter, Heelys continues to be hated (and 2.4 million shorted shares) by the street after it scorned many from a much higher level. We think that it is attractive at these levels as a bounce cadidate. It has formed a solid base in this area and looks poised to move higher. It is also worth
noting that even if the United States economy softens that most emerging countries love to follow our culture trends and that could lead to further sales abroad.
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