Yes, there is some strategy to this style of play. In fact, I do it from time to time.
Basically, what it has to do with is setting limits for yourself. Lets say that you sit down at a $10 NL table. You say before the table that you will leave the table after you win $5 or lose $2. Basically, the purpose to this is to minimize your losses. But in order to make this method effective, you have to be just as willing to walk away once you hit your limits when you are up as you are when you are down. So whether it takes 15 seconds or 2 hours to hit your limits, you walk away. If you keep bouncing from table to table, you can actually profit quite nicely from this method.