yes of course if you are making a living that way,I don't see any problem with that.But be ready to cover your shorts in case an 800 pound gorilla walks into the store!Also,could you share with us your cost of one transaction at those levels?

Fidelity charges an arm and a leg for any shares under one dollar.

After that,it's 8 bucks if you are a regular trader or more if your trading volume is low.