I doubt the borkerage fee would be big enought to eat up the whole profit, and the capital gains taxes aren't too bad either.
The reason everone doesn't do it and make a ton of money is because it's not that easy.
To find a stock that is gonna go from $.10 to $.12 is not that easy, how may companies go up 20% in value in a day or two? Not too many.
Sure you may make 20% in a day, but you could just as easily lose 20% in a day.
Edit: Damn beat to the punch.
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