When I am editing, I sometimes have to zoom in real close and make a selection point in a very specific spot. Within hundredths of a second. The “selection end” is sometimes minutes away and may require listening. It’s impossible to not lose the selection start point so what I have to do is take a screen shot and paste it into paint. I then carefully make the end selection point and have to manually enter the selection start point, then hit “delete”. This can get really annoying. All it has to do is remember the selection start and later move it there when you tell it to. I looked and can’t find something like it anywhere. Thanks!
Create a label at the first selection point - and a similar label at the second selection point. Zoom out and select betwenn the two labels - you will need 1.3.x to do this accurately, as in 1.3 the label junctions become “sticky” - and then hit Delete or CTRL+K
WC
That looks cool and will I start to use it but I still think my idea is easier and more intuitive. Having two buttons for “Cursor Save” and “Cursor Move” would be the simplest. Thanks for your help. 
Since what you want to do is delete the portion of audio, and alternative method is this.
Find the start point then Edit > Split.
Find the end point then Edit > Split.
The portion you want to delete is now a separate clip.
Double-click inside the clip to select the entire clip, the press the delete/backspace key.
You can then remove the remaining split by moving the cursor over the split line until it turns into a selection arrow, then click - the two clips will be joined.
– Bill
this is exactly what I want to do.
I’m new to Audacity and obviously missing a basic step.
i hit the spacebar to play, then P to pause when i found my start point.
I then go to edit and split is not highlighted.
If I use the selection tool and mark the spot where the curser is the edit-split is still not highlighted.
You need to hit Stop. Then Edit > Split will be available.
– Bill
still can’t do it.
Sorry! 
You’re quite right. It doesn’t work with Play or the spacebar. The cursor stays at the start position instead of moving to the stop position.
The Magic Key is SHIFT+A (that is, press the A key while holding down SHIFT).
Audacity calls this “Play/Stop and Set Cursor”. This should do what you want: when you stop (using SHIFT+A) Audacity will set the cursor to the stop point. You can now do Edit > Split. Press SHIFT+A to continue playing. Press SHIFT+A to stop playing when you hear the out point of your edit. Do Edit > Split. Now you can double-click the clip to delete it.
Sorry for leading you astray.
– Bill
thanks. that worked perfectly as soon as I downloaded the beta version!