power shifting?

Sometimes when I'm waiting for a light to turn green on the highway (indiana has stoplights on their big highways... ) and I'm first in line, I like to put the automatic transmission gear mode selector thingamabob stick into first gear. when it turns green, i make sure it's safe to go (of course) and then i punch it. when i get to about 4000-5000 RPMs, i shift up to 2, another 3500-5000 RPMs, i put it in 3, then around 70 mph or 4000 RPMs, whichever comes first, i put it into D. Is this bad for my lil' car?