The Alway brothers actually patented this method of model rocket recovery which they call a "backslider." It does not use a streamer. The nosecone is glued in place. There is a small vent hole (1/4" or so for BT5 or BT20 rockets) in the body tube just below the nosecone. At ejection, the vented gas markedly changes the rocket's angle of attack, causing it to backslide.
You can see their patent here:
https://www.google.com/patents/US6926576
Photos below show a competition backslider built 10 years ago by my daughter. We were at a contest here in Michigan and her Edmunds rocket glider disintigrated just above the launch pad. No possiblility of a second flight. I had a very sad young rocketeer.
Bob Alway was there, saw what happened, and suggested salvaging the balsa and using it to make fins for a backslider. Peter contributed the nosecone, Bob contributed the 34" BT5 tube and a paper punch. Emma cut the fins, glued them on by eye, punched the vent hole, glued the nosecone in place, and taped a launch lug on the body tube. It flew just fine and backslid for about 15 seconds, if I remember correctly. Qualified flight! Happy rocketeer!
Lots of fun! Emma got Bob and Pete to sign the rocket, which still hangs proudly in our rocket room.