Flying Ron I appreciate your analogy. Now, as I make short term money buying and selling do I need to pay estimated taxes for federal, state, and social security tax similar to payroll taxes.
Look here for information (follow the links within it)
http://www.irs.gov/taxtopics/tc409.html
Yes you need to pay estimated taxes (you get a forgiveness on this if you pay at least
90% of the tax in the estimated payment, or 100% of what you owed last year).
See here:
http://www.irs.gov/businesses/small/article/0,,id=110413,00.html
You do not owe the self employement (social security/medicare) on this money.