Bollinger Bands - Counter-trend Strategy

Today, I overheard an interesting advice given by a broker to his client which goes somewhat like this "...sometimes you can also use Bollinger Band to sell when the price goes up above the upper line, then buy back when it goes to the lower line, short also can make money, long also can make money one, the price sometimes go up down up down one..." 

The conversation inspires me to detour again.  Hmmm... counter-trend trading.  I'll put Bollinger Bands to the test on my next posting.  What does your gut feel tell you?  Do you thing go Long when the price of FKLI penetrates lower Bollinger Bands and then turn Short (reversal trade) when it penetrates upper band (default setting--BB20,2) using EOD FKLI from 1996 - 2009 will make you good money?  We shall see...