A trio of trend-setting footwear companies have recently caught the attention of small cap growth investors and advisors. Jim Oberweis, editor of The Oberweis Report thinks risk-oriented investors can slide into profits with Heelys Inc. (NASDAQ: HLYS), the maker of the trendy sneakers that have wheels built into their soles.

He explains, "Heelys is a designer, marketer and distributor of innovative, action sports-inspired products targeted to the youth market. The company's primary product, HEELYS-wheeled footwear, is patented, dual-purpose footwear that incorporates a stealth, removable wheel in the heel. The footwear allows the user to seamlessly transition from walking to running or skating by shifting weight to the heel."

In the nine month period ended September 30, 2006, sales increased 300% to $117.1 million. He notes that HEELYS reported net income during that same period of $17.6 million versus $2.9 million in the same period of 2005.

The company completed its initial public offering in December at $21 per share, and Oberweis -- also a money manager -- points out that clients of Oberweis Asset Management participated in the offering and own 479,000 shares.

Harry Domash, editor of Winning Investing, looks at a pair of speculative plays in the shoe sector -- Crocs, Inc. (NASDAQ:CROX) and Skins Inc. (OTC.BB SKNN).

He notes, "Crocs makes colorful casual slip-on footwear that are known for comfort. Crocs uses a proprietary resin that is soft, lightweight, and slip resistant. Crocs recently signed a deal with Disney to make a line of 'Disney by Crocs' footwear."

The company also announced that it has expanded its existing licensing deal with the National Hockey League to include more teams and signed a new licensing deal with the NFL. Domash points out that the NFL deal includes all 32 teams, as well as the League, the Super Bowl and Pro Bowl.

He notes that the company had its IPO in February 2006 and is now profitable, has cash in the bank, and has little long-term debt. He cautions, however, "like all fashion fads, Crocs could go out of style tomorrow." He rates the stock a buy for a 2 to 4 month trade, and emphasizes that this idea is "risky and for speculative funds only."

Domash also recommends the risky, small cap, low priced stock, Skins. He explains, "The company has developed a new concept for shoes. It involves breaking a shoe into two parts. The base structure, called the 'Bone,' is the inner orthopedic support structure The outer part of the shoe, which is collapsible, is called the 'Skin.'

"The Skins, made from Italian leathers, suedes, and woven materials, fit over the bone like a sock. A customer changes the shoe's appearance by putting on a new Skin. Once a customer has a Bone that fits correctly, he or she will never have to worry that the next pair of shoes will fit or be uncomfortable."

The advisor notes that Skins' plans to ship its first products by the end of March in 50 upscale, trend setting, stores. He speculates that the stock -- trading at just $2 a share -- could double or triple if its products sell.

But, he cautions, "This stock is as risky as it gets. It has recorded no sales or earnings, and nobody knows if it ever will. Within the past few months, Skins has traded as high as $2.85, and as low as $1. It's for your play money only. Buy to hold 6 to 12 months."