Possibly, but building a position flipping is different than flipping 100% of the position. I have used that strategy before when a stock is trading sideways in a channel for an extended period of time......buying a million shares, selling 500,000 on a 30% rally, buying back 700,000 shares with the proceeds of the sale on a pullback to the bottom of the channel, selling 600,000 shares on a rally to the top of the channel, etc. Yes, one day it broke out of the channel but a nice way to accumulate free shares.
The guys who are flipping this channel with 100% of their shares will eventually be left in the dust, But in pinkville it is such a challenge to find a company that is the diamond in a coal mine.