yes you can do that
i was browsin the "tricks" or "hosts" portion of this
site..and i *think*...i came across one that broke
down the "what" and "why" of harmonics...
the mathematical/physical properties.."this and that"
of string lenghth..etc..etc...
(notice how i just kind of left it at that?)
heheh
(when all else fails...throw in some etc...etc..'s
or some of these "this" and "that"

i think if you do a google search
or just a search on this site...that you will find
the answer your looking for
but the basic answer is "yes"
:)

so i fret the 5th fret...and hold my pick with my thumb and middle finger and kind of let my index of my picking hand hang out there...lightly lay the index of picking hand over the 17th fret and pick at the same time...
-G