The problem with flipping a stock like SMKY, as DL has already pointed out, is the lack of liquidity. Sure, you could flip 5-10k, but even if you were able to consistently do that (which would take a long, long time) even if you worked your position up to 50-100k, you wouldn't be able to flip that. You'd still be stuck flipping small amounts...there just isn't enough volume.
I agree jumping around gets problematic. Much easier to find a few gems and add on the way up and the way down.
Quite frankly something like flipping only $1k worth of shares just isn't worth it to me, between the additional 10% tax loss for short-term gains and the brokerage commissions - it just adds up to a lot of timing and patience for what's really not a huge gain in the end.
But whatever floats your boat.
