Fantastic Four #3, page 20, panels 2-4
Writer: Stan Lee
Artist: Jack Kirby
Uncredited Inker: Sol Brodsky
Uncredited Letterer: Art Simek
IT'S BOUNCIN' TIME!
That's the Miracle Man whose point of view we're following here. He's shooting bullets at Reed with hypnosis with a gun. We're not yet seeing that Reed's body can absorb the impact of the bullets, but we do see him avoid the bullets by turning into a ball and bouncing around.
Of course, a large ball is probably an easier target to hit, so Reed's relying on his speed and dexterity as a ball to avoid the Miracle Man's bullets.
Check out our coverage of Fantastic Four #3 in our second episode: Secret Invasion Tie-In