no, it's bad technique. Howard Roberts addresses it concisely in his "jazz guitar technique in 20 weeks" book:
The right hand seems to be the greatest limiting factor for most modern-day guitar improvisers. It appears that once a style of picking has become habitual, it is very difficult to change, and frequently, total retraining is required. So, taking into consideration that there are many techniques one may use to execute a given passage, we must constantly remind ourselves that flexibility-the ability to adapt the right hand to a variety of moves- is the key to longevity. The big thing to avoid is any kind of
anchor system that inhibits freedom of movement. Observe anchors at the elbow, at the wrist, grasping the pickguard with the little finger, etc.; all of which may be functional for a specific sound, but should be viewed with caution when considered as the basis of overall right hand technique. Remember:
keep it loose! - like a guy strumming a ukelele in a pineapple field. If there is any rigidness in your picking leverage system, it can stop you like a brick wall when tempos get fast.
I'm pretty much 100% in agreement with him...especially at bebop gigs. :crazy:
PS - if anyone's interested in a pdf of that book, btw, PM me with your email. (sorry, howard. )