The stochastic POP method

I read about this from a new day trading book i found at books a million by Jake Bernstein

http://stockcharts.com/h-sc/ui?s=CAT&p=D&b=5&g=0&id=p71601757900

The basics of the system are that you buy when readings are overbought, and sell when the lines cross, opposite is true for shorts...thought it was interesting, sense price will many times, rise while in these extremes.

Kon

 

"Everything works some of the time, but nothing works all of the time"

 

The man sells books and internet stuff to make a living, also had a serious run in with the CFTC/NFA (cannot remember which)

Now, where was this strategy thoroughly audited, again, to show its value?