No, it's probably the backward loop CO. It's easy to do, but very difficult to knit into and keep the yarn between the stitches from stretching out. It's good for just a few stitches, but not really to begin a larger project with, especially on a circular needle. I've used on in place of a provisional CO, but only cast on about 2/3 the sts I needed and 'made' the other ones when the yarn looped out enough to put in a few more as I knit the first row. You can see this shown in Techknitter's blog post.