The above link is very useful for reference, but yes you can cut using HST.
I am three weeks in to a cut now and will be off to the gym later for my 5th workout of the 5's. I am repeating the weights I managed on my last cycle of bulking and even managed new 10RM's.
I have dropped 10lbs in 3 weeks which sounds like a lot, but the first week seen me drop 6-7lbs which I am assuming was mainly water weight and a rapid shock to the body dropping from 3400 cals per day to 2400 cals.
I hope the fat loss continues at a steady rate and I'd be happy with just a lb a week as long as my strength levels remain constant.
I've added 20-30 mins of light cardio after my workout, and either 20 mins of HIIT or 30-40mins of low intensity cardio on non weights days, with about one rest day a week.
I'm seeing results in the mirror, definately slimmer and dropped a knotch on the belt, but I do look a bit deflated and flabby/loose skin is noticeable as my muscles aren't pumped with glycogen and water like they were when I was bulking. I'm not sure whether to have a cheat day and fill myself back up again?????
However, when the cuts over and I increase the cals again I should see an improvement.