Wall Street is notorious for overhiring in good times and underhiring in bad. Either way, it's good news for little-known Headway Corporate Resources (HDWY), which provides staffing and advisory services to banks, brokerages, and investment firms.

''It's a tremendous market for us, be it bull or bear,'' says Headway's CEO Gary Goldstein. He finds that Wall Street always needs help in hiring and firing. Outsourcing is the solution.

Headway has been busy acquiring other companies to widen its reach. So far this year, it has acquired five temporary-staffing companies.

Despite Headway's puny size, big institutions have been buying--in anticipation of new acquisitions, which should give Headway a national presence. ''Like many micro-cap stocks, the stock, now at 3 3/4 a share, is inefficiently priced, and we think it's worth much more, based on future earnings and potential growth,'' says Phil Westreich, managing partner at Weston Capital Management. He expects earnings of 30 cents for 1997 and 45 cents to 50 cents in 1998. Headway posted operating earnings of 14 cents last year.