As long as you're prepared to gimp your child's future socially AND academically.
The mother of my ex girlfriend was on the admissions board for the University of California system. They really look down on home schooled applicants. By her own words, the ratio of home schooled applicants to matriculants is significantly lower than public/private high school.
I have a cousin who cannot even join the army because they refuse to recognize his home schooled education even though it was administered by a supposedly reputable (and expensive) company. He has to go to community college and earn 30 units first.
Not to mention the huge negative stigma it caries. People automatically think "home schooled?... Okay, what's wrong with this kid?" I had a manager who refused to even interview a home schooled applicant because she assumed they are socially dysfunctional. Its not right, but that's the way it is.
Middle school was hell. I went through almost exactly the same thing. I learned to adapt, I found my own way and was stronger for it. Your kid seems athletic, get him involved in sports at the school level. Playing for a team changed everything for me, I found my place and earned respect, but most importantly I made friends. It was like a magic bullying off switch.