Is there a way to assign a keyboard button as a mouse button?

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For clicking and dragging stuff, I don't like the tap to drag, and I have my magic trackpad in my lap so I cant use the click. The better touch tool lets me use a key as a single click but not a click and hold. Is there anything that would let me use a key as a click and hold.

 

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Someone out there must be able to help me, should I have posted this in a different forum category? I wasn't really sure if the OSX forum was the right place for this question.